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Company A pays $24,000 yearly with raises of $1600 per year. Company B pays $28,000 yearly with raises of $1,000 per year. Which company will pay more in year 10? How much more?…

Company A pays $24,000 yearly with raises of $1600 per year. Company B pays $28,000 yearly with raises of $1,000 per year. Which company will pay more in year 10? How much more?…
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Company A pays $24,000 yearly with raises of $1600 per year. Company B pays $28,000 yearly with raises of $1,000 per year. Which company will pay more in year 10? How much more?

asked
User Antiga
by
8.3k points

1 Answer

6 votes
Company A will be more because 1600x10 = 16000 which added to 24000 gives you 40000
whereas
Company B will be 1000x10= 10000 which added to 28000 will be 38000
this would give you 40000- 38000 = 2000 as a difference
answered
User Peheje
by
8.1k points
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