Personal Finance

If there is a positive correlation between salary and education, then based on the table shown, which of the following careers requires the least education?

surveyor

The table below is comparing level of education achieved to the rate of unemployment and the median weekly earnings in 2008. Based on the information provided, the unemployment rate decreases the most when moving between which two consecutive educational levels?

"Less than high school" and "High School Graduate"

Yvonne continues to work full-time at her job while she attends college part-time. It takes 5 years for Yvonne to complete the program, but when she does she is able to increase her salary from $37,000 per year to $45,000 per year. At this rate, Yvonne will have recovered her college costs after 4.5 years. How much did it cost Yvonne to go to college?

$36,000

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?

10 years

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?

3.3 years

Mark currently works part-time with a salary of $8,000 per year. Mark plans to quit working and attend college for 4 years. If his college costs will total $64,000, how long will it take Mark to recover his investment assuming he has a salary of $32,000 upon graduating?

4 years

Based on the information provided in the graph, for which of the following situations could you expect to have the greatest increase in salary?

Having a master's degree and getting a doctorate degree.

Two people quit work and begin college at the same time. Their salary and education information is given in the table below. Salary prior to school Years attending college Total cost of college Salary upon graduating Person A $18,000 3 $45000 $33,000 Person B $27,000 4 $30,000 $37,000 Choose the true statement.

a. Person A recovers their investment in a shorter amount of time.

Careers differ in many ways other than just income, and these differences can affect your long-term goals or your ability to attain the same. Which of the following is not a factor of a career that might affect your long-term goals?

a. The job tends to offer a generous number of sick or personal days per year.

Aaron is a high school graduate working as a retail clerk. He earns a median salary for a high school graduate. Aaron is thinking about going to college to get an associate's degree. If he completes his degree in 2 years and college costs total $30,000, how long will it take Aaron to recover his investment, assuming that he earns the median salary and continues to work full time while he is attending school?

about 2.5 years

There is a correlation between higher education and greater degrees of both income and job stability. What is one downside of continuing education that might cause someone to choose not to seek a higher level of education despite the benefits?

c. Higher education can be expensive, and most students who seek degrees must accept some burden of debt.

Samantha's college runs on a trimester schedule so she receives a bill 3 times a year for tuition. Each trimester costs $1,450, and Samantha must complete 2 years of college to receive her degree. The average cost for books each trimester is $350. Approximately what will be the total cost for Samantha to get her degree? a.

d. $10,800

If there is a positive correlation between number of years of education and the amount of company pension contributions, which of the following professions would you expect to have the best company pension contributions?

pharmacist, doctorate degree