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Bradley figures the he will have to pay $30,000 per year tuition in October 2014 and then again in October 2015.

Assume that Bradley requires a rate of return on his investment of 8% per annum and that his first salary increase resulting from his degree will take place in October 2016. Also assume that Bradley expects a 2.5% annual increase in his salary throughout his career and that he will receive thirty-six annual paychecks after graduation, the first of which will be in October 2016. By how much must Bradley's salary increase in October 2016 to justify his outlays for tuition?

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