15
QuizMultiple Choice

Career Planning

Question 15 • SHS Alt Personal Finance - 2021

Jamal works part-time earning $8,000 per year. He reduces his work hours by half so that he can go to school. Jamal completes his degree after 3 semesters (1.5 years) at a cost of $1,400 per semester in tuition and $500 per semester in books. What was Jamal's investment in getting his degree?

Answer
A
$4,700
B
$5,700
C
$11,700
D
$17,700

Explanation

Jamal’s investment includes both education costs and earnings he gave up. Tuition and books cost $1,400 + $500 = $1,900 per semester, or $1,900 × 3 = $5,700. By working half as much, he gives up half of his $8,000 yearly earnings, or $4,000 per year; over 1.5 years, that is $6,000. The total investment is $5,700 + $6,000 = $11,700, choice c.

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