Intermediate Algebra for College Students (7th Edition)

Published by Pearson
ISBN 10: 0-13417-894-7
ISBN 13: 978-0-13417-894-3

Chapter 11 - Section 11.2 - Arithmetic Sequences - Exercise Set - Page 841: 69

Answer

Company A: $\$307,000$. Company B: $\$324,000$. Company B pays higher salary than A.

Work Step by Step

For Company A Starting salary $=\$19,000$. Increment per year $\$=2,600$ Increased salary after tenth year $=19,000+(10-1)2,600$ $=19,000+9\cdot 2,600$ $=\$42,400$. Total Sum of the salary over a ten-year period is $=\frac{10}{2}(19,000+42,400)$ $=5\cdot (61,400)$ $=\$307,000$. For Company B. Starting salary $=\$27,000$. Increment per year $\$=1,200$. Increased salary after tenth year $=27,000+(10-1)1,200$ $=27,000+9\cdot 1,200$ $=\$37,800$. Total Sum of the salary over a ten-year period is $=\frac{10}{2}(27,000+37,800)$ $=5\cdot (64,800)$ $=\$324,000$.
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