There are two different jobs Mike is considering. The first job will pay him $4200 per month plus an annual bonus of 4500. The second job pays $3100 per month plus $600 per month toward his rent and an annual bonus of $500. How much would his annual salary be for each job?

Question

3
4*
First job:
Second job:
.

Answer 1

To calculate Mike's annual salary for each job, we need to consider both the monthly payments and the annual bonuses.

First Job:

• Monthly salary: $4200
• Annual bonus: $4500

Annual salary calculation:

1. Monthly salary for the year: \( 4200 \times 12 = 50400 \)
2. Add the annual bonus: \( 50400 + 4500 = 54900 \)

Total annual salary for the first job: $54,900.

Second Job:

• Monthly salary: $3100
• Monthly rent contribution: $600
• Annual bonus: $500

Total monthly income for the second job:

1. Calculate monthly income: \( 3100 + 600 = 3700 \)

Annual salary calculation:

1. Monthly income for the year: \( 3700 \times 12 = 44400 \)
2. Add the annual bonus: \( 44400 + 500 = 44900 \)

Total annual salary for the second job: $44,900.

Summary:

• First job: $54,900
• Second job: $44,900