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Niah works as a retail sales clerk earning $18,000 per year. She plans to go to school for medical billing that has a median salary of $35,000. The cost of her education will be $20,000. If Niah does not work for the 2 years that she is in school, about how long will it take her to recover her investment if she gets a medical billing job making the median salary when she graduates?
Niah works as a retail sales clerk earning $18,000 per year. She plans to go to school for medical billing that has a median salary of $35,000. The cost of her education will be $20,000. If Niah does not work for the 2 years that she is in school, about how long will it take her to recover her investment if she gets a medical billing job making the median salary when she graduates?
It will takeNiahapproximately 2 years to recover her investment if she gets a medical billing job making the median salary when she graduates.calculating how long it will take NiahTo calculate how long it will take Niah to recover her investment if she gets a medical billing job making themediansalary, consider the following factors:Niah's current annual salary: $18,000Cost of education: $20,000Median salary for medical billing: $35,000To determine the time it takes to recover theinvestment, we need to calculate the difference between Niah's current annual salary and her potential salary after completing the medical billing program.Difference in annual salary: $35,000 - $18,000 = $17,000Now, calculate the number of years it will take Niah to recover her investment by dividing the cost ofeducationby the difference in annual salary:Time to recover investment = $20,000 / $17,000Time to recover investment ≈ 1.176 yearsTherefore, it will take Niah approximately 2 years to recover her investment if she gets a medical billing job making the median salary when she graduates.Read onmedianonbrainly.com/question/26177250#SPJ1...