Question

twin bothers, collin and cameron get jobs immediately after graduating from college at the age of 22. collin opts for the higher starting salary, $55,000 and stays with the same company until he retires at age 65. his salary doubles every 15 years. cameron opts for the lower starting salary, $35,000 but moves to a new job every few years so that he doubles his salary every 10 years until he retires at age 65. what is the annual salary of each brother upon retirement?

Answer 1

Collin

22 years = 55,000 USD

+15 years

37 years = 2 x 55,000 = 110,000 USD

+15 years

52 years = 2 x 110,000 = 220,000 USD

Cameron

22 years = 35,000 USD

+10 years

32 years = 2 x 35,000 = 70,000 USD

+10 years

42 years = 2 x 70,000 = 140,000 USD

+10 years

52 years = 2 x 140,000 = 280,000 USD

+10 years

62 years = 2 x 280,000 = 560,000 USD

Retirement Salaries

Collin = 220,000 USD

Cameron = 560,000 USD