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18 September, 01:14

A pro-athlete is offered an eight-year contract with a starting salary of $400,000. She will receive an annual increase of 5% for meeting certain goals. The athlete receives another offer of an eight-year contract with a starting salary of $425,000 and a 4% increase each year for meeting the same goals. Which offer should the athlete take? Explain.

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  1. 18 September, 01:18
    0
    I believe the 8 year contract which is increased by 5% each year will be $991.08. And the 4% will be $1,007.20. So she would want the 8 year contract with the 4% increase.
  2. 18 September, 01:43
    0
    400000 (.05) = 20000

    20000 (8) = 160000

    400000+160000=

    560000

    425000 (.04) = 17000

    17000 (8) = 136000

    425000+136000=

    561000

    Athlete would take the $425,000 with 4%
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