If the surgeon and the pharmacist each worked 30 years, how much more money
does the surgeon make in lifetime income?
A $1,154,620
B $924,720
C $3,467,700
D $115,590
for career is surgeon and pharmacist the annual salary for surgeon is 230,540 and the annual salary for pharmacist is 114,950 the years of education for surgeon is 8 years and the years of education for the pharmacist is 6 years
First, we need to calculate the total lifetime income for each profession.
For the surgeon:
Total years worked = 30 years
Annual salary = $230,540
Total lifetime income = $230,540 x 30 = $6,916,200
For the pharmacist:
Total years worked = 30 years
Annual salary = $114,950
Total lifetime income = $114,950 x 30 = $3,448,500
To find the difference in lifetime income, we subtract the total lifetime income of the pharmacist from the total lifetime income of the surgeon:
$6,916,200 - $3,448,500 = $3,467,700
Therefore, the answer is C) $3,467,700.
To calculate the lifetime income difference between the surgeon and the pharmacist, we need to consider their annual salaries, years of work, and years of education.
Annual salary for surgeon: $230,540
Annual salary for pharmacist: $114,950
Years of work for both: 30 years
Let's calculate the lifetime income for both professions:
Lifetime income for surgeon:
Lifetime income = (Annual salary * Years of work) + (Annual salary * Years of education)
Lifetime income for surgeon = ($230,540 * 30) + ($230,540 * 8)
Lifetime income for surgeon = $6,916,200 + $1,844,320
Lifetime income for surgeon = $8,760,520
Lifetime income for pharmacist:
Lifetime income for pharmacist = ($114,950 * 30) + ($114,950 * 6)
Lifetime income for pharmacist = $3,448,500 + $689,700
Lifetime income for pharmacist = $4,138,200
Finally, we can calculate the difference in lifetime income:
Difference = Lifetime income for surgeon - Lifetime income for pharmacist
Difference = $8,760,520 - $4,138,200
Difference = $4,622,320
Therefore, the surgeon makes $4,622,320 more in lifetime income compared to the pharmacist.
The correct answer is A) $1,154,620