Now, let's do a comparision, assume your cost of capital is $8\%,$ you have $20$ years until retirement $($including any years

Problem $15$ in school$),$ your current salary is $$60,000$ and you receive a $25\%$ raise whether you complete your MBA, regardless of whether it is the full time MBA program $($taking $2$ years off$)$ or complete it part$-$time over $4$ years while working. What is the best economic decision?

Using the same assumptions as the previous problem, what would be the impact on your wealth at the start of

Problem $16$ retirement under each scenario if you saved the entire salary increase and invested using the $8\%$ cost of capital as your investment return?