You are 30 years old and are considering studying for an MBA. You just received your annual salary of $60,000 and expect it to grow by 2.5% per year. MBAs typically earn $80,000 upon graduation, with salaries growing by 3.5% per year. The MBA program you are considering is a full-time, 2-year program that costs $30,000 per year, payable at the end of each study year. You want to retire on your 65^th birthday. The relevant discount rate is 8%. Is it worth while for you to quit your job in order to study for the MBA? (Ignore income taxes)

Please include excel formulas, Thank You