# In order to go to college, Hank goes from working full-time making \$28,000 per year to working part-time at half the salary for two years

In order to go to college, Hank goes from working full-time making \$28,000 per year to working part-time at half the salary for two years. The cost of his education will be \$5,000. If Hank makes \$33,000 per year after getting his degree, approximately how many years will it take him to recover his investment?

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1. To determine how many years it will take Hank to recover his investment in education, we need to calculate the total cost of his investment and the increase in his annual income after graduation. Here’s a step-by-step breakdown:

1. Loss of Income During School:
• Full-time salary: \$28,000 per year
• Part-time salary: \$14,000 per year (half of the full-time salary)
• Loss of income per year: \$28,000 – \$14,000 = \$14,000
• Loss of income over 2 years: \$14,000 * 2 = \$28,000
2. Cost of Education:
• Cost of education: \$5,000
3. Total Investment:
• Total investment (loss of income + cost of education): \$28,000 + \$5,000 = \$33,000
4. Increase in Annual Income After Graduation:
• Salary after getting a degree: \$33,000 per year
• Previous full-time salary: \$28,000 per year
• Increase in annual income: \$33,000 – \$28,000 = \$5,000
5. Years to Recover Investment:
• Total investment: \$33,000
• Annual increase in income: \$5,000
• Years to recover investment: \$33,000 / \$5,000 = 6.6 years

Therefore, it will take Hank approximately 6.6 years to recover his investment in education.