SOLUTION: Suppose you are offered two jobs. One pays $30,000 the first year with annual raises of $2,000 each year. The second offers a starting salary of 27,000 and raises of 8% each year.

Algebra ->  Sequences-and-series -> SOLUTION: Suppose you are offered two jobs. One pays $30,000 the first year with annual raises of $2,000 each year. The second offers a starting salary of 27,000 and raises of 8% each year.       Log On


   

Question 94201This question is from textbook algebra and trigonometry
: Suppose you are offered two jobs. One pays $30,000 the first year with annual raises of $2,000 each year. The second offers a starting salary of 27,000 and raises of 8% each year. Over a ten-year period, how much would you earn from
(a)the first job? (b) the second job?
(a)_______________
(b)_______________ This question is from textbook algebra and trigonometry

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose you are offered two jobs. One pays $30,000 the first year with annual raises of $2,000 each year. The second offers a starting salary of 27,000 and raises of 8% each year. Over a ten-year period, how much would you earn from
(a)the first job? (b) the second job?

(a) salary = 30000+ 10*2000 = $50,000.00
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(b)salary = 27000 + 27000(1.08)^10 = $85,290
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Cheers,
Stan H.