Math Problem Statement

Oliver accepted a new job at a company with a contract guaranteeing annual raises of $2500. After working for the company for 8 years, Oliver will have a salary of $65000. Write an equation for S, in terms of n, comman, representing Oliver's salary after working nn years for the company.

Solution

To find the equation for Oliver's salary, let's break down the information step by step:

  1. Initial salary and raise pattern:
    Oliver receives an annual raise of $2500. This suggests that his salary increases in an arithmetic sequence, where the difference between consecutive terms is $2500.

  2. Salary after 8 years:
    After 8 years, Oliver's salary will be $65,000. We will use this to find his initial salary, which is the starting point of the arithmetic sequence.

Step 1: Set up the formula for the arithmetic sequence

The general formula for an arithmetic sequence is:

S=S0+dnS = S_0 + d \cdot n

Where:

  • SS is the salary after nn years.
  • S0S_0 is the initial salary.
  • dd is the common difference (annual raise), which is $2500.
  • nn is the number of years worked.

Step 2: Use the information for year 8

From the information provided, we know that when n=8n = 8, Oliver's salary is $65,000. Substituting into the equation:

65,000=S0+2500×865,000 = S_0 + 2500 \times 8

Step 3: Solve for S0S_0

Now solve for the initial salary S0S_0:

65,000=S0+20,00065,000 = S_0 + 20,000

S0=65,00020,000=45,000S_0 = 65,000 - 20,000 = 45,000

So, Oliver's initial salary was $45,000.

Step 4: Write the equation for SS

Now that we know the initial salary, we can write the equation for Oliver's salary after nn years:

S=45,000+2500nS = 45,000 + 2500 \cdot n

This equation represents Oliver's salary after nn years of working for the company.


Would you like further clarification or more details on this? Here are some related questions you might find helpful:

  1. How would Oliver's salary look over the first 5 years?
  2. If Oliver works for 12 years, what will his salary be?
  3. How would the equation change if the annual raise was $3000 instead of $2500?
  4. What if Oliver's starting salary was $50,000 instead of $45,000—how would that affect the equation?
  5. If Oliver's salary increases only every 2 years, what would the new formula be?

Tip: Arithmetic sequences like this can be used to model many real-world situations involving constant growth or decline, such as savings or costs!

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Math Problem Analysis

Mathematical Concepts

Algebra
Arithmetic Sequences

Formulas

S = S_0 + d * n

Theorems

Arithmetic Sequence Formula

Suitable Grade Level

Grades 9-11