Can you answer this math question?

Question

Suppose you are offered a choice of two jobs. Both jobs you like equally. Job A has a starting wage of $8.00 per hour, with a $0.50 raise every 3 months. Job B starts at $6.95 per hour, with an 8% raise every 3 months.

Write an equation that could be used to determine the hourly wage at Job A after any number of pay raises. Be sure to define your variables.

Write an equation that could be used to determine the hourly wage at Job B after any number of pay raises. Be sure to define your variables.

Thanks for your help!

For someone who mentioned this in an answer, this is not my homework, and it certainly isn't an exam question! Thanks for being concerned though. :)

Answer 1

Job A :
hourly wage after n pay raises = wa
starting wage = $8.00
raise every 3 months = $0.50
number of pay raises = n

we can write series for every 3 months
8, 8+0.5, 8+2(0.5), 8+3(0.5), ..., 8+n(0.5)

hourly wage after n pay raises
wa =8 + 0.5n

Job B :
hourly wage after n pay raises = wb
starting wage = $6.95
raise every 3 months = 8%
number of pay raises = n

we can write series for every 3 months
6.95,
6.95+0.08(6.95) = 6.95(1+0.08),
6.95(1+0.08)+6.95(1+0.08)0.08 = 6.95(1+0.08)^2,
...
6.95(1+0.08)^n

hourly wage after n pay raises
wb = 6.95(1+0.08)^n

Answer 2

let Wa be the hourly wage in job A at any time
let Wb be the hourly wage in job B at any time
let m be the number of compete 3 monthes passed

Wa=8+0.5m
it is more complecated in the second case
Wb=6.95*(1+0.08)^m

because for the first 3 (m=0) monthes the hourly wage will be 6.95
in the next three monthes (m=1) it will be 6.95*(1+0.08)
in the next three monthes (m=2) it will be 6.95*(1+0.08)*(1+0.08) and so on

Answer 3

In the first case, if h = hourly wage and n = the number of raises,
you'd have h =8 + 0.5 n since each 3 month period adds an extra half dollar.

In the second, each time it gets multiplied by 1.08 since there's 108% of the original salary (100% + 8%) after each raise. That would be h = 6.95 X 1.08 X 1.08 X 1.08... or

h = 6.95 (1.08^n)

Answer 4

Let "n" be the number of pay raises.

After "n" pay increases:
Hourly pay at Job A ($) = 8 + 0.5n
Hourly pay at Job B ($) = 6.95 x (1+0.08)^n

Assumes 8% raise at Job B is based on last salary before raise (not initial salary).

Hope this is not your homework or exam question.

Answer 5

This is a big thought,but it would matter. Also, if you 're not sure about this,then you could find a financial aid booklet. For the most reason, I may suggest you sorting an accounting solutions.