Question
Given the inheritance of $415,000 from his grandfather, Gary is abandoning his dream to become a medical doctor but instead will train to be a
Given the inheritance of $415,000 from his grandfather, Gary is abandoning his dream to become a medical doctor but instead will train to be a social media influencer. As a part of his training, he is looking to join a Mr Beasts training camp which will cost him $170,000 per year. The social media training will take two years to complete, and Gary will stay with many famous influencers during his training. Once he has completed his training, Gary is expected to be able to generate annual revenue of $75,000 from YouTube, $10,000 from Instagram and $50,000 from Tik Tok. Due to the short span of his social media career, Gary is expected to generate income for only ten years after graduating before he is no longer relevant. If the interest rate is 3.12 % per annum, is the social media training investment worth it? Explain with the figures
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