2009-12-10, 10:37 PM
"Jack has a job that pays $15,000 for the 1st year with a raise of $1,000 at the end of each year thereafter. Jill has a job that pays $7500 for the first six months with a raise of $250 at the end of every 6 months thereafter. Who has earned the greater total income after 10 years and by how much? Write a formula for each income using sigma notation and then evaluate."
I actually got this problem, and it turns out that Jill has more of the total income by $2,500. The answer matches the one in the book.
But...it doesn't make sense. Jack is starting with more money, plus, his raise is higher at the end of every year...since Jill gets a raise of $500 per year, right? Plus, Jill starts out with less money, so I don't get how Jill's total income is higher than Jack's.
I actually got this problem, and it turns out that Jill has more of the total income by $2,500. The answer matches the one in the book.
But...it doesn't make sense. Jack is starting with more money, plus, his raise is higher at the end of every year...since Jill gets a raise of $500 per year, right? Plus, Jill starts out with less money, so I don't get how Jill's total income is higher than Jack's.