Jamie has a job paying $25,000 and expects to receive a $1,000 raise each year. Wei has a job paying $19,000 a year and expects a $1,500 raise each year. For what span of time is Jamie making more money than Wei?
Answer (2)
Jamie get's $10,000 dollars added onto her annual paycheck after 10 years. Wei on the other hand, get's $15,000 dollars added onto his annual paycheck after 10 years. Jamie's total: $35,000 Wei's total: $34,000 So Jamie would have a better pay than Wei for 10 years, but after that Wei will take the lead.
Jamie makes more money than Wei for a span of 11 years. After that, Wei's salary surpasses Jamie's due to his higher annual raises. Thus, they have different salary growth trajectories, with Jamie leading initially but Wei eventually taking the lead.
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