A company offers its employees the choice of two contracts. The first contract gives an initial salary of 15000/year rising it b
y a 1000 every year. The second contract gives an employee an initial salary of 14000 a year and a rise of 10% each year. Which of the two contracts yields a higher income over 5 years? [8 marks].
To answer this question, start by identifying the total amount of income after 5 years for the first contract. Since you start with 15,000 and get 1000 more each year, write an expression that represents this relationship. 15000 + 1000(5)
Multiply the parenthesis to begin to simplify your expression. This leaves you with: 15000 + 5000
Add to find the total salary after five years with the first contract. This ends up with: $20,000
For the second contract, you have a diffferent rate of increase. Start by finding what one percent of the initial salary is. To do this, divide 14000 by 100. 14000/100 = 140 Then to find ten percent, multiply that number by 10. 140 x 10 =1400
So, each year you add 1400 dollars to the salary. Now, using this information, set up an expression to model the salary for contract 2 after 5 years. This should leave you with: 14000 + 1400(5)
Begin to simplify by multiplying what’s in the parenthesis. 1400 x 5 = 7000 Now rewrite your expression: 14000 + 7000
Add to find the total salary after 5 years with contract 2. 14000 + 7000 = 21000
So the salary with contract 2 is $21,000.
So, since $21000 is $1000 more than just $20000, contract 2 is the better option. I hope this helps! :)
She bought a toy for 4 dollars, so we need to subtract that from 88. This gives us 84 dolalrs. She bought 8 shirts and 6 pants, which is 14 items total. Divide 88 by 14 and you get 6.
