Story Problem: which position is the better offer?

[Math wiz ya rite 09]

Could someone please show me how to solve this math problem:

Utica and Charlotte apply for similar positions at different companies. Utica is offered the position with a starting salary of $30,000 with a guaranteed raise of 4% per year. Charlotte is also offered the position at her company, but with a starting salary of $25,000 with a guaranteed annual raise of 5% plus $500. Under what conditions is each offer better?

THANKS!

 

[stapel]

What have you tried? How far have you gotten? You've computed the first few years' salaries for each plan, and... then what?

Please reply showing all of your work and reasoning thus far, especially how you are accounting for the expected duration of the jobs. Thank you.

Eliz.

 

[Math wiz ya rite 09]

THANKS FOR THE HELP!

 

[Math wiz ya rite 09]

still need help/

 

[tkhunny]

What have you tried? How far have you gotten? You've computed the first few years' salaries for each plan, and... then what?

Please reply showing all of your work and reasoning thus far, especially how you are accounting for the expected duration of the jobs. Thank you.

TK