Solved

Solve the Problem $2,011,827\$ 2,011,827 B Geometric; $1,752,496\$ 1,752,496 B) A Geometric; $2,011,827\$ 2,011,827

Question 65

Multiple Choice

Solve the problem.
-The yearly salary for job A is $57,000 initially with an annual raise of $3,200 every year thereafter. The yearly salary for job B is $53,000 initially with an annual raise of 5%.
a. Consider a sequence representing the salary for job A for year n. Is this an arithmetic or geometric Sequence? Find the total earnings for job A over 20 years. Round to the nearest dollar.
b.Consider a sequence representing the salary for job B for year n. Is this an arithmetic or geometric Sequence? Find the total earnings for job B over 20 years. Round to the nearest dollar.


A) a. Geometric; $2,011,827\$ 2,011,827
b. Geometric; $1,752,496\$ 1,752,496
B) a. Geometric; $2,011,827\$ 2,011,827
b. Arithmetic; $1,643,500\$ 1,643,500
C) a. Arithmetic; $1,748,000\$ 1,748,000
b. Geometric; $1,752,496\$ 1,752,496
D) a. Arithmetic; $1,748,000\$ 1,748,000
b. Arithmetic; $1,643,500\$ 1,643,500

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions