Assume that bradley requires a rate of return on his

Reference no: EM13622412

Bradley figures the he will have to pay $30,000 per year tuition in October 2014 and then again in October 2015.

Assume that Bradley requires a rate of return on his investment of 8% per annum and that his first salary increase resulting from his degree will take place in October 2016. Also assume that Bradley expects a 2.5% annual increase in his salary throughout his career and that he will receive thirty-six annual paychecks after graduation, the first of which will be in October 2016. By how much must Bradley's salary increase in October 2016 to justify his outlays for tuition?

Reference no: EM13622412

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