If accumulated tuition, fees and interest on your undergraduate engineering education loan is 37,500 when you graduate, and you can use 20% of your starting annual salary of 75,000 each year to pay off the loan, what is the payback period of this investment? (ignore discounting)

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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If accumulated tuition, fees and interest on your undergraduate engineering
education loan is 37,500 when you graduate, and you can use 20% of your starting annual salary of 75,000 each year to
pay off the loan, what is the payback period of this investment? (ignore discounting)
Transcribed Image Text:If accumulated tuition, fees and interest on your undergraduate engineering education loan is 37,500 when you graduate, and you can use 20% of your starting annual salary of 75,000 each year to pay off the loan, what is the payback period of this investment? (ignore discounting)
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