Question

Mr.Jackson has received two salary offers at to different companies. Company A pays $40000 per year with an increase of $2000 each year after the first year. Company B pays $30000 per year with an increase of $5000 each year after the first year. What is the answer about Mr.Jackson potential salary in 5 years at each company?

Answer 1

The potential salary of Mr. Jackson in 5 years in company A is $ 48000 and in company B is $ 50000.

Explanation:

Company A offer:

Pay for first year,
`a=\$40000`

Increase in pay each year after first year,
`d=$2000`

The total pay after n years can be determined using the
`n^(th)` term of the arithmetic progression as the increase in pay is an arithmetic sequence with first term as 40000 and common difference as 2000.

So, Total pay after 5 years is given as:

`T_(n)=a+(n-1)d\\T_(5)=40000+(5-1)2000\\T_(5)=40000+4* 2000\\T_(5)=40000+8000=\$48000`

Company B offer:

Pay for first year,
`a=\$30000`

Increase in pay each year after first year,
`d=$5000`

The total pay after n years can be determined using the
`n^(th)` term of the arithmetic progression as the increase in pay is an arithmetic sequence with first term as 30000 and common difference as 5000.

So, Total pay after 5 years is given as:

`T_(n)=a+(n-1)d\\T_(5)=30000+(5-1)5000\\T_(5)=30000+4* 5000\\T_(5)=30000+20000=\$50000`

Therefore,

The potential salary of Mr. Jackson in 5 years in company A is $ 48000 and in company B is $ 50000.