suppose you are offered two identical jobs: one paying a starting salary of $40,000 with yearly raises of $2,000 and one paying a starting salary of $36,000 with yearly raises of $25,000. Which job will pay more over a 10 year period?
I=PRT = 40,000 x 0.05 x 10 = 20,000.
S = 40,000 + 20,000 = $60,000.
2. 36,000 x 0.069 x 10= 24,840
S= 36,000 + 24,840 = 60,840.
MY answer will be salary of $36,000
3 answers