Nia is trying to decide between two possible jobs. Job A pays $2000 a month with a 2% annual raise.

Discussion in 'Calculator Requests' started by math_celebrity, Sep 29, 2018.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    Nia is trying to decide between two possible jobs. Job A pays $2000 a month with a 2% annual raise. Job B pays 24,000 a year with a $500 annual raise. Write a function to represent the annual salary for Job A after x years. Write a function to represent the annual salary for Job B after x years. After how many years would Nia have a greater salary at Job A?

    Nia Job A salary at time t: S(t)
    $2,000 per month equals $24,000 per year.
    So we have S(t) = 24,000(1.o2)^t

    Nia Job B salary at time t: S(t)
    $24,000 per year.
    So we have S(t) = 24,000 + 500t

    We want to know t when Job A salary is greater than Job B Salary:
    24,000(1.o2)^t > 24,000 + 500t

    Time | A | B
    0 | 24000 | 24000
    1 | 24480 | 24500
    2 | 24969.6 | 25000
    3 | 25468.99 | 25500
    4 | 25978.37 | 26000
    5 | 26497.94 | 26500
    6 | 27027.9 | 27000
    7 | 27568.46 | 27500
    8 | 28119.83 | 28000
    9 | 28682.22 | 28500
    10 | 29255.87 | 29000
    11 | 29840.98 | 29500
    12 | 30437.8 | 30000
    13 | 31046.56 | 30500
     

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