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?

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First job:
Second job:
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1 answer

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