Compare Mr. Nicholson’s potential income as an employee for the company for three years and nine years. Should time play a factor in his decision regarding contractual salary increases? Use complete sentences to explain your answer.

Yes, time play a factor in his decision, because after 3 years, option a is better, but after 9 years, option b is better.

Step-by-step explanation:

The following information is missing:

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.

The function that describes each situation is:

a) f(x) = 60,000 + 3,500*(x-1)

b) f(x) = 60,000*1.05^(x-1)

where x represents years and f(x) his salary.

Mr. Nicholson’s potential income for three years and nine years for each situation are:

a) f(3) = 60,000 + 3,500*(3-1) = $67,000

f(9) = 60,000 + 3,500*(9-1) = $88,000

b) f(3) = 60,000*1.05^(3-1) = $66,150

f(9) = 60,000*1.05^(9-1) = $88,647

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