You are considering going to graduate school for a one-year masters\' program. Y

Question

You are considering going to graduate school for a one-year masters' program. You have done some research and believe that the master's degree will add $5000 per year to your salary for the next 10 years of your working life, starting at the end of this year. From then on, after the next 10 years, it makes no difference. Completing the master's program will cost you $35000, which you would have borrow at an interest rate of 6 percent. How would you decide if this investment in your education were profitable?

Explanation / Answer

The answer is 6%

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