Someone please help me with this
Jerry has a new job and earns a salary of $45,000. Victoria has a new job and earns a salary of $54,000. Jerry will receive a salary increase of $2,500 per year, and Victoria will receive a salary increase of $1,500 per year. Who earns more after 5 years?
A. Jerry makes $4,000 less
B. Victoria earns $5,000 less
C. Victoria makes $5000 more*
D. Jerry makes $4000 more
Jerry: 45000 + 5*2500 = 57,500
Victoria: 54000 + 5*1500 = 61,500
To determine who earns more after 5 years, let's calculate their salaries year by year.
Jerry's salary:
Year 1: $45,000 + $0 (no increase yet) = $45,000
Year 2: $45,000 + $2,500 = $47,500
Year 3: $47,500 + $2,500 = $50,000
Year 4: $50,000 + $2,500 = $52,500
Year 5: $52,500 + $2,500 = $55,000
Victoria's salary:
Year 1: $54,000 + $0 (no increase yet) = $54,000
Year 2: $54,000 + $1,500 = $55,500
Year 3: $55,500 + $1,500 = $57,000
Year 4: $57,000 + $1,500 = $58,500
Year 5: $58,500 + $1,500 = $60,000
After 5 years, Jerry's salary will be $55,000, while Victoria's salary will be $60,000.
Comparing their salaries, we can see that Victoria earns $5,000 more than Jerry.
Therefore, the correct answer is C. Victoria makes $5,000 more.