Suppose you are offered a job with a relatively low starting salary but with a $2000 raise for each of the next 9 years. How much more than your starting salary would you be making in the ninth year?
Starting salary = $X.
Salary = x + 2000T = x + 2000*9 = X + $18,000 = $18,000 more than starting salary.
s
Well, if I were to take that job with a low starting salary, I would probably need to become a professional juggler on the side to make ends meet. But let's do the math here, just for fun! If you start with a low salary and get a $2000 raise each year for 9 years, it's like a clown car of increasing income!
So, let's say your starting salary is $30,000 (the circus life isn't always glamorous, you know). In the first year, you'll get a raise of $2000, which would bring your salary to $32,000. In the second year, another $2000 raise would make it $34,000. And this pattern continues, adding $2000 each year until the ninth year.
By the ninth year, you would have accumulated a whopping $18,000 in raises (9 years multiplied by $2000 per year). Adding that to your starting salary, you would be making $48,000 in the ninth year.
So, to answer your question, you would be making $18,000 more than your starting salary in the ninth year. That's a lot of pie in the face!
To calculate how much more you would be making in the ninth year compared to your starting salary, you need to add up all the salary increases.
Given that you have a starting salary and receive a $2000 raise each year, we can use the following formula to calculate the salary in each year:
Salary in year n = Starting salary + ($2000 × (n - 1))
Now, let's calculate the salary in the ninth year:
Starting salary = $X (unknown amount)
Salary in the first year:
= Starting salary + ($2000 × (1 - 1))
= Starting salary + $0
= Starting salary
Salary in the second year:
= Starting salary + ($2000 × (2 - 1))
= Starting salary + $2000
Salary in the third year:
= Starting salary + ($2000 × (3 - 1))
= Starting salary + $4000
Salary in the fourth year:
= Starting salary + ($2000 × (4 - 1))
= Starting salary + $6000
And so on, until the ninth year.
Salary in the ninth year:
= Starting salary + ($2000 × (9 - 1))
= Starting salary + ($2000 × 8)
= Starting salary + $16,000
Therefore, in the ninth year, you would be making $16,000 more than your starting salary.
To calculate the salary in the ninth year, we need to find the sum of the starting salary and the cumulative raises for each year.
Step 1: Determine the starting salary.
Since the question states that the starting salary is relatively low, let's assume it to be $x.
Step 2: Calculate the cumulative raises.
Since there will be a $2000 raise for each of the next 9 years, the cumulative raise would be $2000 multiplied by the number of years. In this case, 9 years.
Cumulative raise = $2000 x 9 = $18,000
Step 3: Calculate the salary in the ninth year.
To find the salary in the ninth year, we need to add the starting salary to the cumulative raise.
Salary in the ninth year = Starting salary + Cumulative raise
Salary in the ninth year = $x + $18,000
Therefore, in the ninth year, you would be making $18,000 more than your starting salary.