Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days per year, paid health insurance, life insurance costing $35 per month, and a retirement plan that costs 3% of after tax income. The Sales job has no paid vacation or sick days, paid health and life insurance, and a retirement plan that costs $350 per month. 9. What is the GROSS ANNUAL INCOME for the DESIGNER position? $40,000 $50,824 $58,240 $60,000

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Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

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Fred is considering three job offers in advertising.

A full-time position as a coordinator that pays a salary of $40,000 per year.
A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week.
A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising.

The following are the specifics about the benefits of the job opportunities:

The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%).
Fred will deduct 15% of Gross Income to cover Federal Income Tax.
Fred does not live in a state with State Income Tax.
Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year.
The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan.
The Designer job includes five paid vacation days and three paid sick days per year, paid health insurance, life insurance costing $35 per month, and a retirement plan that costs 3% of after tax income.
The Sales job has no paid vacation or sick days, paid health and life insurance, and a retirement plan that costs $350 per month.

9. What is the GROSS ANNUAL INCOME for the DESIGNER position?

$40,000

$50,824

$58,240

$60,000

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