Company A offers a starting salary of $28,000 with a raise of $3,000 each year. Company B offers a starting salary of $36,000 wi
th a raise of $2,000 per year. Company C offers a starting salary of $18,000. After how many years would the salaries for Companies A and B be the same? How much of a raise per year would Company C have to offer to equal the salaries of Companies A and B in the year in which the salaries of Companies A and B in the year in which the salaries of those two companies are the same?
Starting salary offered by Company A = $28000 Amount of raise per year given by Company A per year = $3000 Starting salary offered by Company B =$36000 Amount of raise per year given by Company B = $2000 Let us assume the number of years after which the salary offered by Company A will be the same as Company B = x Then 28000 + 3000x = 36000 + 2000x 3000x - 2000x = 36000 - 28000 1000x = 8000 x = 8000/1000 = 8 years So from the above deduction we can conclude that after 8 years the salary of Company A and Company B will become equal. More information's are also provided for the second part of the question. Starting salary offered by Company C = $18000 Let us assume the amount of raise per year given by Company C = z dollars Number of years in which the salaries of Company C will become equal to the salaries of Company A and B = 8 years Then 18000 + 8z = 28000 + (3000 * 8) 18000 + 8z = 28000 + 24000 18000 + 8z = 52000 8z = 52000 - 18000 8z = 34000 z = 34000/8 = 4250 dollars From the above deduction we can conclude that the raise given by Company C should be $4250.
