document.write( "Question 1203113: An employee starts work on 1 January 2000 on an annual salary
\n" ); document.write( "of $30,000. His pay scale will give him an increase of $800 per
\n" ); document.write( "annum on the first of January until 1 January 2015 inclusive. He
\n" ); document.write( "remains on this salary until he retires on 31st December 2040.
\n" ); document.write( "How much will he earn during his working life. \n" ); document.write( "

Algebra.Com's Answer #838412 by ikleyn(52797) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "An employee starts work on 1 January 2000 on an annual salary of $30,000.
\n" ); document.write( "His pay scale will give him an increase of $800 per annum
\n" ); document.write( "on the first of January until 1 January 2015 inclusive.
\n" ); document.write( "He remains on this salary until he retires on 31st December 2040.
\n" ); document.write( "How much will he earn during his working life.
\n" ); document.write( "~~~~~~~~~~~~~~~~~~~~~~~\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "His annual salaries from 01/01/2000 to 12/31/2015 form an arithmetic progression\r\n" );
document.write( "with the first term  = 30000 dollars and common difference d= 800 dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "In particular, his annual salary for the year 2015 is \r\n" );
document.write( "\r\n" );
document.write( "     = 30000 + 15*800 = 42000 dollars  (the 16-th term of the AP).\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Thus, from 01/01/2000 till 12/31/2015 he earned   = 576000 dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "From 01/01/2016 to 12/31/2040, his annual earning rate was constant 42000 dollars per year \r\n" );
document.write( "during  (40-15) = 25 years.\r\n" );
document.write( "\r\n" );
document.write( "So, during these 25 years, he earns  25*42000 = 1050000 dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "The total earning during his working life will be this sum\r\n" );
document.write( "\r\n" );
document.write( "    576000 + 1050000 = 1,626,000 dollars.    ANSWER\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "-----------------\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "For introductory lessons on arithmetic progressions see \r
\n" ); document.write( "\n" ); document.write( "    - Arithmetic progressions\r
\n" ); document.write( "\n" ); document.write( "    - The proofs of the formulas for arithmetic progressions \r
\n" ); document.write( "\n" ); document.write( "    - Problems on arithmetic progressions \r
\n" ); document.write( "\n" ); document.write( "    - Word problems on arithmetic progressions\r
\n" ); document.write( "\n" ); document.write( "in this site.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );