Math Problem Statement
Isabel is considering job offers from two companies. Company A offered her a starting salary of $49,000 with a $2100 raise at the end of each year. Company B offered her a starting salary of $49,000 with a 3.5% raise at the end of each year.
Let f ( t ) represent Isabel's salary at Company A t years after accepting a position at Company A, and let g ( t ) represent Isabel's salary at Company B t years after accepting a position at Company B. Complete the table of values below.
t f ( t ) g ( t ) 0 49000 49000 1 2 3
Solution
To complete the table of values, we need to use the formulas for both companies:
Company A:
The salary increase is a fixed amount of $2,100 each year. The formula for Isabel's salary at Company A after years is:
Company B:
The salary increase is a percentage of her salary from the previous year. The formula for Isabel's salary at Company B after years is:
Now, let's calculate the salaries for each year.
For Company A:
- When , .
- When , .
- When , .
- When , .
For Company B:
- When , .
- When , .
- When , .
- When , .
Completed Table:
(Company A) | (Company B) | |
---|---|---|
0 | 49,000 | 49,000 |
1 | 51,100 | 50,715 |
2 | 53,200 | 52,451.03 |
3 | 55,300 | 54,206.56 |
Would you like further clarification or more details on how these calculations were made?
Related Questions:
- How would the salaries at Company A and Company B compare after 5 years?
- How would Isabel’s salary at Company A change if the raise was higher (e.g., $3,000 per year)?
- How does the percentage raise at Company B affect long-term salary growth compared to a fixed salary raise?
- What would Isabel's salary at Company A be after 10 years?
- How could inflation affect Isabel’s salary at both companies?
Tip: The percentage raise at Company B results in a compounding effect, which means the increase each year is slightly larger than the previous year’s raise. This is a key difference from the fixed raise at Company A.
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Math Problem Analysis
Mathematical Concepts
Algebra
Exponential Growth
Linear Sequences
Formulas
f(t) = 49,000 + 2,100 * t
g(t) = 49,000 * (1.035)^t
Theorems
Exponential Growth
Linear Growth
Suitable Grade Level
Grades 8-10
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