SOLUTION: I know the answer is 2014. I just don't understand how this was calculated. Please help me. Sonja and Chris both accept new jobs on March 1, 2001. Sonja starts at $44,000 wit

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: I know the answer is 2014. I just don't understand how this was calculated. Please help me. Sonja and Chris both accept new jobs on March 1, 2001. Sonja starts at $44,000 wit      Log On

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Question 220231: I know the answer is 2014. I just don't understand how this was calculated. Please help me.
Sonja and Chris both accept new jobs on March 1, 2001. Sonja starts at $44,000 with a raise each March 1 of 2%. Chris starts at $28,000 with a raise on March 1 each year of 6%. In what year will Chris' salary exceed Sonja's?

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
The situation can be modelled as 2 linear equations
Let Salary, S, be plotted on the vertical axis
Let Years, Y, be plotted on the horizontal axis (staring at zero)
For Sonja,
(1)S+=+44000+%2B+.02%2A44000%2AY
For Chris,
(2)S+=+28000+%2B+.06%2A44000%2AY
I can rewrite them as
(1) S+=+44000%2A%281+%2B+.02Y%29
(2) S+=+28000%2A%281+%2B+.06Y%29
I'll find out in what year Salaries are equal
44000%2A%281+%2B+.02Y%29+=+28000%2A%281+%2B+.06Y%29
Divide both sides by 28000
%2811%2F7%29%2A%281+%2B+.02Y%29+=+1+%2B+.06Y
11%2F7+%2B+%2822%2F700%29%2AY+=+1+%2B+%286%2F100%29%2AY
%2842%2F700%29%2AY+-+%2822%2F700%29%2AY+=+11%2F7+-+7%2F7
%2820%2F700%29%2AY+=+4%2F7
Y+=+%2870%2F2%29%2A%284%2F7%29
Y+=+20
Their salaries will be equal in 20 years
Chris's will exceed Sonja's in 21 years,
or March 1st, 2022.
If you're sure the answer is 2014, then I made a
mistake, but I think the method is OK.
I'll plot them: