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:
- Monthly salary for the year: \( 4200 \times 12 = 50400 \)
- 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:
- Calculate monthly income: \( 3100 + 600 = 3700 \)
Annual salary calculation:
- Monthly income for the year: \( 3700 \times 12 = 44400 \)
- 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