Phil is 50 years old and presently earns $90,000. Phil has the opportunity to enroll in a job-training course at work for a one-time cost of $10,000. Since Phil is already a pretty good worker, he expects to earn an additional $2,000 per year. Phil has a discount rate of 10%.

• (2 points) If Phil expects to work until age 60 (i.e., ten more years), will he take the course?
• (8 points) What is the minimum number of years Phil needs to work before retiring if the course is to be a wise investment?