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Janette estimates that her earnings for the next 5 years with only a BS degree will...

Janette estimates that her earnings for the next 5 years with only a BS degree will be $40,000 per year. After those initial 5 years, she will start to earn monthly salaries that last forever. For each of these infinitely many years, she estimates that each year her salary will be $A per month for the first 6 months (January through June) and $2A per month for the next 6 months (July through December).

If she can get an MS degree, her earnings would be $48,000 per year for the subsequent 4 years of obtaining her MS degree (i.e., for years 2, 3, 4 and 5). But her earnings while working on the MS degree (year 1) will be negligible and her additional annual expenses during her MS education (year 1) will be $12,000. If she receives an MS degree, after those four initial years, each year her monthly salary will be $A + x for the first 6 months and $2A + 2x for the following 6 months. She will earn these monthly salaries again forever.

For an annual effective interest rate of 10% compounded monthly, find the value of x for which the extra investment in MS education will pay for itself.

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