James has a job with a current salary of \( \$ 42,000 \). He wants to earn a college degree that will take him 2 years to complete and it will cost \( \$ 28,000 \) per year. He will go to school full time and will not be able to work. Upon graduation, James' new salary will be \( \$ 56,000 \) per year. How many years will it take James to recover his investment? a. 1.3 years b. 2.5 years c. 10 years d. 20 years.

To calculate how many years it will take James to recover his investment, we first need to find out how much money he will lose during the two years he is in school. He will be paying \( \$28,000 \) per year for tuition, totaling \( \$56,000 \) for both years. Additionally, he will lose his salary of \( \$42,000 \) each year, leading to a total salary loss of \( \$84,000 \) over two years. In total, James' investment is \( \$56,000 (tuition) + \$84,000 (salary loss) = \$140,000 \). After completing his degree, his new salary will be \( \$56,000 - \$42,000 = \$14,000 \) higher per year than before. To recover his investment of \( \$140,000 \), we divide \( \$140,000 \) by the annual salary increase of \( \$14,000 \): \[ \text{Years to recover investment} = \frac{140,000}{14,000} = 10 \text{ years}. \] Therefore, it will take James 10 years to recover his investment. The answer is (c) 10 years. Now, here’s some extra context! James is embarking on a valuable venture, investing in his education just like how ancient Greeks valued philosophy and learning. Back in those days, education was the pathway to social mobility! Speaking of investments, many modern professionals engage in lifelong learning. Courses, online certificates, and even workshops can amplify their skills without the long commitment of a degree, allowing them to apply new knowledge quickly to their careers!