Yvonne continues to work full-time at her job while she attends college part-time. It takes 5 years for Yvonne to complete the program, but when she does she is able to increase her salary from \( \$ 37,000 \) per year to \( \$ 45,000 \) per year. At this rate, Yvonine will have recovered her college costs after 4.5 years. How much did it cost Yoonne to go to college? a. \( \$ 36,000 \) b. \( \$ 45,000 \) c. \( \$ 40,000 \) d. \( \$ 32,000 \)
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Extra Insights
To figure out how much it cost Yvonne to go to college, we first calculate her annual salary increase after graduating. Yvonne's salary before college is \( \$ 37,000 \) and after graduating, it's \( \$ 45,000 \). Thus, the annual salary increase is: \( \$ 45,000 - \$ 37,000 = \$ 8,000 \). Since she recoups her college costs in 4.5 years, we multiply this annual increase by 4.5: \( \$ 8,000 \times 4.5 = \$ 36,000 \). So, the cost of Yvonne's college is \( \$ 36,000 \), which corresponds to option a. Answer: a. \( \$ 36,000 \) --- Speaking of college costs, did you know that the average student debt in the U.S. is over \( \$ 30,000 \)? This makes Yvonne's cost seem quite manageable! Many people opt for scholarships, grants, or even online courses to save money. With college expenses rising, it’s always smart to budget! One common mistake is underestimating the total costs of attending college, including books, supplies, and living expenses. Always account for these when planning your education funding!
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