Here's the question I need a hand with:
You have a 10-year plan to raise money for university. You have the choice of two jobs:
The first has a commencing salary of $30 000 per year with an annual increment of $1000
The second offers a commencing salary of $31 000 per year with a six monthly increment of $500
Over 10 years which job would pay the most and by how much?
Thanks in advance, all help is much appreciated.
At the 1-st zero you have
At the 2-nd zero you have
In general at the 10th year you have
Similar reasoning says that at the 10-th you haveThe second offers a commencing salary of $31 000 per year with a six monthly increment of $500
Now which one is bigger?