Job choice: 1st gives $2K raise at end of each yr; 2nd gives

A

algebraiseasy

New member
Joined
Mar 26, 2009
Messages
11
Bob has two job offers. Both jobs offer a base salary of 100k per year. Job one offers a $2000 per year raise at the end of each year and job two offers a $1000 per year raise at the end of every six months.
a. Which job is better?
b. How much more will he make over a ten year period?

I know the best job is the one that offers a raise every six months. For the last six months of each year Bob will make $1000 per year more until the other job would catch up. So he would make $500 more per year for ten years for a sum of $5000 total compensation more.

Is there an equation I can use to prove this?
 
Re: Job choice

algebraiseasy said:
Bob has two job offers. Both jobs offer a base salary of 100k per year. Job one offers a $2000 per year raise at the end of each year and job two offers a $1000 per year raise at the end of every six months.
a. Which job is better?
b. How much more will he make over a ten year period?

I know the best job is the one that offers a raise every six months. For the last six months of each year Bob will make $1000 per year more until the other job would catch up. So he would make $500 more per year for ten years for a sum of $5000 total compensation more.

Is there an equation I can use to prove this?
Click to expand...

Have you done sum of arithmetic series? - you'll need use that eqution.

For this problem - only few terms are involved - you can simply write it out and add those by "brute-force".
 
Re: Job choice

algebraiseasy said:
b. How much more will he make over a ten year period?
Click to expand...
Why isn't the answer this simple: 500y where y = years?
(question is "how much more?")
 
You must log in or register to reply here.
Top