25.An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by working toward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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25. An engineering student who will soon receive his B.S. degree is
contemplating continuing his formal education by workingtoward an
M.S. degree. The student estimates that his average earnings for the
next 6 years with a B.S. degree will be $30,000 per year. If he can get
an M.S. degree in one year, his earnings should average 32,000$ per
year for the subsequent 5 years. His earnings while working on the
M.S. degree will be negligible and his additional expenses will be
$10,000. The student estimates that his averageper-year earnings in
the three decades following the initial 6-year period will be $32,000,
35,000$ and 39,000$ if he does not stay for an M.S. degree. If he
receives an M.S. degree his earnings in the three decades can be
stated as $32,000 +x,$35,000 +x, and $39,000 +x. for an interest rate
of 13% find the value of x for which the extra investment in formal
education will pay for its self.
Answer($8104)
Transcribed Image Text:25. An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by workingtoward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be $10,000. The student estimates that his averageper-year earnings in the three decades following the initial 6-year period will be $32,000, 35,000$ and 39,000$ if he does not stay for an M.S. degree. If he receives an M.S. degree his earnings in the three decades can be stated as $32,000 +x,$35,000 +x, and $39,000 +x. for an interest rate of 13% find the value of x for which the extra investment in formal education will pay for its self. Answer($8104)
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