Mei's salary starts at $16,000 per year with annual raises of $1500. Janet's starting salary is $19,300 with annual raises of $950. After how many years will the two women be earning the same salary?
To determine the number of years it will take for Mei and Janet to have the same salary, we can set up an equation based on the given information.
Let's assume the number of years is represented by 'x'.
Mei's salary after 'x' years can be calculated as:
Salary_Mei = Starting_salary_Mei + (Annual_raises_Mei * x)
= $16,000 + ($1,500 * x)
Janet's salary after 'x' years can be calculated as:
Salary_Janet = Starting_salary_Janet + (Annual_raises_Janet * x)
= $19,300 + ($950 * x)
Now, we want to find the value of 'x' when Mei's salary is equal to Janet's salary.
Therefore, we can set up the equation:
$16,000 + ($1,500 * x) = $19,300 + ($950 * x)
To solve this equation, we can simplify it and isolate the 'x' variable:
$1,500 * x - $950 * x = $19,300 - $16,000
$550 * x = $3,300
x = $3,300 / $550
x = 6
Therefore, it will take 6 years for Mei and Janet to earn the same salary.