Grover

Mathematics

10 April, 03:05

Part 1: Mr. Nicholson accepts a job that pays an annual salary of $60,000. In his employment contract, he is given the option of choosing a) an annual raise of $3,500 or b) an annual raise of 5% of his current salary.

Procedures:

1. Use the provided information to identify each of Mr. Nicholson's earning opportunities as arithmetic or geometric. For each opportunity, include all the common difference or ratio.

2. Model each of Mr. Nicholson's salary options with a recursive model that includes his potential earnings for the first three years of employment.

a. $60,000 salary with an annual raise of $3,500

b. $60,000 salary with an annual raise of 5% of his current salary

3. Suppose Mr. Nicholson plans on working for his new employer for at least 9 years. use each of the recursive models to determine Mr. Nicholson plans on working for his new employer for at least 9 years. Use each of the recursive models to determine Mr. Nicho