Question

Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. Which statement is true?
A. Joaquin should put the money in savings because retirement is expensive and he should have every penny he can.
B. Joaquin should put the money in savings because it will grow quickly with interest that he can use in retirement.
C. Joaquin should take the class because a promotion will mean a larger salary over the long term compared to a single cash advantage.
D.Joaquin should take the class because $3,000 is too small of an amount to bother putting away for retirement.

Answer 1

So based on the given scenario above, I can say that the best thing Joaquin can do is to take the $3000 vocational training class since there will be more chances of promotion. And with promotions, this would also mean a larger salary over the long term. He can refund the $3000 dollars eventually. The answer would be option C.

Answer 2

Answer:

C

Explanation:

In the long run, Joaquin would earn more if He did the Training Class. Since He is still working and He (presumably) has some years ahead before retiring. With a larger salary He could devise a plan to pay its extra cost of $3000. Including diversifying investments to retire earlier.