Question

Joni is considering job offers from two companies. Company A offered her a starting salary of $54,660 with a 4.8% raise at the end of each year. Company B offered her a starting salary of $61,400 with a raise of $2400 at the end of each year. What is the ratio of Joni's salary one year compared to her salary in the previous year for Company A?

Answer 1

Answer:

1.048

Explanation:

Data provided in the question:

Starting salary offered by company A = $54,660

Raise in salary by company A = 4.8% = 0.048

Starting salary offered by company B = $61,400

Raise in salary by company A = $2400

Now,

Amount of raise in the salary offered by company A

= 4.8% of $54,660

= 0.048 × $54,660

= $2,623.68

Therefore,

Salary after 1 year in company A

= Starting salary + Amount of raise in the salary

= $54,660 + $2,623.68

= $57,283.68

Therefore,

The ratio of Joni's salary one year compared to her salary in the previous year for Company A

= $57,283.68 ÷ $54,660

= 1.048