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a. 2. You have graduated from college and you are given a job offer at a firm in which you have two choices between two
a. 2. You have graduated from college and you are given a job offer at a firm in which you have two choices between two salary structures. Option A is that you start off with a salary of $61,000 and at the end of each year, you will receive a 2.9% raise (that is the next years salary will be 2.9% higher than the previous years salary). Option B is that you start off with a slary of $70,000, but you will only receive a 1.2% raise each year. Let An and Bn represent the current salary (for the respective options) after working at the firm for n complete years. Note that Ao represents the salary during the first year and A, represents the salary during the second year at the firm (similarly for option B). You are only to use your calculator to perfrom the basic operations of addition, subtraction, mulitiplication, division, and exponents). Do the following: Create difference equations for each option that models the each option. Show how you arrived at your answers. Place a box around your final answers. (5 points) b. Take option A and determine and determine the slalaries for the first 3 years of working at the firm. Show how you arrived at your answers. (5 points) Solve the difference equations for each of the options. Show the steps needed to arrive at your answers. Place a box around your final answers. (5 points) d. Create a table that lists the salaries (rounded to the nearest dollar) during the 3,5,7,9, 11, 13, and 15th years for each option. NOTE: On a separate paper, show the calculations that you made to arrive at each of the values in the table and this page should be an appendix (Appendix A) at the end of the all the pages with the solutions for the take home quiz problems. (5 points) e. If you were going to work at the firm for 13 years, which option should you choose? Explain why! (5 points) C
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