The first job is in Louisville, Kentucky. The starting salary will be $40,000. This employer has a history of offering annual raises of $2000 for the first five years and $1000 after that. The second job is in Nashville, Tennessee. The starting salary will be $37,000. This employer has a history of offering annual raises of 5%. 4. Create a graph showing the salaries for 20 years. 5. Which of these two jobs would you recommend Alex accept based solely on financial considerations?

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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The first job is in Louisville, Kentucky. The starting salary will be $40,000. This employer has a history of offering annual raises of $2000 for the first five years and $1000 after that.

The second job is in Nashville, Tennessee. The starting salary will be $37,000. This employer has a history of offering annual raises of 5%.

4. Create a graph showing the salaries for 20 years.

5. Which of these two jobs would you recommend Alex accept based solely on financial considerations?

Expert Solution
Step 1

4) Given that first job is in Louisville, Kentucky the  starting salary will be $40,000 and the employer has a history of offering annual raises of $2000 for the first five years and $1000 after that.

Also the second job is in Nashville, Tennessee the  starting salary will be $37,000 and the employer has a history of offering annual raises of 5%.

The function that models the salary at Louisville, Kentucky for first five years is,

40000+2000x

At the fifth years the salary becomes,

40000+20005=40000+10000                             =50000

The function that models salary at Louisville, Kentucky for remaining 15 years is,

50000+1000x

Note that 5% of 37000 is 1850.

Similarly the function that models the salary at Nashville, Tennessee is,

37000+1850x

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