Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

Mohawksgirl

  • 4 years ago

.) Determine the future value of education: Jenny Franklin estimates that as a result of completing her master’s degree, she will earn $7,000 a year more for the next 40 years. A.) What would be the total amount of these additional earnings?

  • This Question is Closed
  1. Mohawksgirl
    • 4 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    I came out at $7,000 x 40 which is $280,000, but my instructor told me to revise this.

  2. betty91388
    • 4 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    its a problem that uses compounding. the idea is that the first year you would make x dollars, the second $7,000 more than x, the 3rd year you would make $14,000 more than x - so on and so forth..

  3. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy