Answer :
Let's compare the two job offers step-by-step to determine which one is better based on the annual income after housing and utility costs.
1. Calculate the total income including benefits for both jobs:
Job 1: Seattle, WA
- Salary: \[tex]$78,000 - Benefits: \$[/tex]4,000 (in the form of bonuses)
Total income for Job 1:
[tex]\[ 78{,}000 + 4{,}000 = 82{,}000 \][/tex]
Job 2: Silicon Valley, CA
- Salary: \[tex]$100,000 - Benefits: \$[/tex]2,500 (in the form of bonuses)
Total income for Job 2:
[tex]\[ 100{,}000 + 2{,}500 = 102{,}500 \][/tex]
2. Calculate the annual income after deducting the housing and utility costs for both jobs:
Note that both job offers have the same average monthly rent and utilities cost amounting to \[tex]$401,000 annually. Job 1: Seattle, WA \[ 82{,}000 - 401{,}000 = -319{,}000 \] Job 2: Silicon Valley, CA \[ 102{,}500 - 401{,}000 = -298{,}500 \] 3. Calculate the difference in income between the two jobs: Difference in annual income between Job 2 and Job 1: \[ (-298{,}500) - (-319{,}000) = 20{,}500 \] From these calculations, we can conclude: - Job 2 in Silicon Valley, CA will result in a better annual income after housing and utility costs compared to Job 1 in Seattle, WA. - Job 2 offers a total income (salary + benefits) that is \$[/tex]20,500 more than Job 1.
- The annual income after housing and utility costs for Job 1 is expected to be \[tex]$ -319,000, while for Job 2, it is expected to be \$[/tex] -298,500.
Therefore, Job 2 is a better choice based on the annual income after housing and utility costs.
1. Calculate the total income including benefits for both jobs:
Job 1: Seattle, WA
- Salary: \[tex]$78,000 - Benefits: \$[/tex]4,000 (in the form of bonuses)
Total income for Job 1:
[tex]\[ 78{,}000 + 4{,}000 = 82{,}000 \][/tex]
Job 2: Silicon Valley, CA
- Salary: \[tex]$100,000 - Benefits: \$[/tex]2,500 (in the form of bonuses)
Total income for Job 2:
[tex]\[ 100{,}000 + 2{,}500 = 102{,}500 \][/tex]
2. Calculate the annual income after deducting the housing and utility costs for both jobs:
Note that both job offers have the same average monthly rent and utilities cost amounting to \[tex]$401,000 annually. Job 1: Seattle, WA \[ 82{,}000 - 401{,}000 = -319{,}000 \] Job 2: Silicon Valley, CA \[ 102{,}500 - 401{,}000 = -298{,}500 \] 3. Calculate the difference in income between the two jobs: Difference in annual income between Job 2 and Job 1: \[ (-298{,}500) - (-319{,}000) = 20{,}500 \] From these calculations, we can conclude: - Job 2 in Silicon Valley, CA will result in a better annual income after housing and utility costs compared to Job 1 in Seattle, WA. - Job 2 offers a total income (salary + benefits) that is \$[/tex]20,500 more than Job 1.
- The annual income after housing and utility costs for Job 1 is expected to be \[tex]$ -319,000, while for Job 2, it is expected to be \$[/tex] -298,500.
Therefore, Job 2 is a better choice based on the annual income after housing and utility costs.
