Suppose you start work at $60,000 a year. After a year, you are given two choices for getting a raise:
Option A: 2.3% raise each year
Option B:
A flat $1500 raise for each successive year
a. Write an equation to represent each option (2pts each)
Option :
Option B:
b. If you only work for 3 years, how much would you earn under each plan and which option is better? (2
pts)
C.
If you are planning on staying at this job for the long run, which option is better overall? Explain your
answer completely. (3 pts)