tom and jerry were offered similar jobs at competing companies. sony offered tom a starting salary of $ 32,000 per year with a 7% raise at the end of each year.panasonic offered jerry a $35,000 annual starting salary with a 5% raise at the end of each year.
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To compare the salaries of Tom and Jerry over the years, we need to calculate their salaries for multiple years based on their initial salaries and the annual raise percentages.
Let's start by calculating Tom's salary for each year. Tom's starting salary is $32,000, and he gets a 7% raise at the end of each year.
Year 1:
Tom's salary = $32,000
Annual raise = $32,000 * 7% = $2,240
Total salary after one year = $32,000 + $2,240 = $34,240
Year 2:
Tom's salary = $34,240
Annual raise = $34,240 * 7% = $2,396.80
Total salary after two years = $34,240 + $2,396.80 = $36,636.80
We can continue this process to calculate Tom's salary for subsequent years.
For Jerry, his starting salary is $35,000, and he gets a 5% raise at the end of each year.
Year 1:
Jerry's salary = $35,000
Annual raise = $35,000 * 5% = $1,750
Total salary after one year = $35,000 + $1,750 = $36,750
Year 2:
Jerry's salary = $36,750
Annual raise = $36,750 * 5% = $1,837.50
Total salary after two years = $36,750 + $1,837.50 = $38,587.50
We can continue this process to calculate Jerry's salary for subsequent years.
By comparing these values, you can determine which individual has a higher salary each year.