Bjork (no relation to Bjrk) has an okay life working on an assembly line at a li
ID: 2445778 • Letter: B
Question
Bjork (no relation to Bjrk) has an okay life working on an assembly line at a light bulb factory. She just got a raise and her current salary is $25,000 per year. The employment contract stipulates that the salary increases by $1,000 per year for every year that she works on the assembly line. She is currently 30 years old and in her country everyone retires at age 50.
Her country also encourages education and so allows any employee who stops working to go to school full-time to return to their former job when they graduate at the salary when they left. Bjork has some savings and is considering going to school for a 2 year degree at a cost of $10,000 for both years. Although she thinks school will improve her life, she plans to go back to her job on the assembly line.
How much will it really cost Bjork to get her 2 year degree?
Explanation / Answer
Bjork's real cost of Study Assume she is taking the course this year and next year Details Cost $ Remarks Cost of two years course@10000 for two years 10,000 Assumed $10,000 for two years as condition given not very clear(whether 10000 for two years or each year ) Loss of pay for current year 25,000 Loss of pay for next year 26,000 Loss due to a lagging of $2000 each year for next 19 years of service , when she joins back job 38,000 Assumed the same salary conditions prevail after she joins back service Total Real cost of study 99,000
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