What investment equation do I need? Investment / personal money question?
-When I will be able to make the money back
-When my investment will turn into income
-How my debt will factor in to current debt
-What this means practically for me over the next 10 years
I would prefer an equation, because that way I can apply it as my choice of graduate school changes.
Here is the information:
Program Cost: 40,000
Program Duration: 2.5 years
My current debt payment: $330 a month, due over next 6.5 years
My current "extra" income: $300 a month
Expected increase in income in 5 years: $200 more a month
Expected increase in income in 8 years: $400 more a month
What equation will help me calculate and think about this?