Company A pays
Which company pays more for the first 10 years of employment? Select the correct answer below and if necessary, fill in the answer box to complete your choice.
Company B pays
Company A pays $ more.
Both companies pay the same amount, $
There is not enough information.
Final Answer: Company B pays
Step 1 :We are given that Company A pays
Step 2 :We can calculate the total salary for each company over 10 years using the formula for the sum of an arithmetic series. The formula is
Step 3 :For Company A,
Step 4 :Substituting these values into the formula, we get the total salary for Company A over 10 years:
Step 5 :For Company B,
Step 6 :Substituting these values into the formula, we get the total salary for Company B over 10 years:
Step 7 :Comparing the totals, we find that Company B pays more over the first 10 years of employment. The difference between the total amounts paid by the two companies is $481,000 - $475,000 = $6,000.
Step 8 :Final Answer: Company B pays