One company has a starting pay of $26,000 raise of $3000 each year. The other company offers the starting pay of $36,000 with a raise of $2000 each year.

Question

After how many years will Janine salary be the same at both companies? What would the salary be?

Answer 1

The difference between the starting salaries is $10,000, and the difference between the annual pay raises is $1,000.

 

So, it will take 10 years ($10,000 / $1,000/y) for the two salaries to be the same, which will be $56,000.

 

a simple table will show the annual amounts.