Hector is deciding how much he should invest each year. The Automatic Method multiplies the average income by 10%, where the average income

Question

Hector is deciding how much he should invest each year. The Automatic Method multiplies the average income by 10%, where the average income is $50,000 for an employee that has been at the same company for 10 years or less and $60,000 for an employee that has been at the same company for more than 10 years. The Exact Method multiplies the exact income by 7.5%. Suppose Hector has been at the same company for 12 years and his income last year was $75,000. Find the amount Hector should invest using both methods.

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Isabelle 12 mins 2022-05-14T11:58:34+00:00 1 Answer 0 views 0

Answers ( )

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    2022-05-14T12:00:00+00:00

    Using proportions, it is found that:

    • Using the Automatic Method, Hector should invest $6,000.
    • Using the Exact Method, Hector should invest $5,625.

    ——————–

    • By the Automatic Method, an employee that has been on the company for more than 10 years invests $60,000 multiplied by 10% = 0.1.

    Thus:

    60000 \times 0.1 = 6000

    Using the Automatic Method, Hector should invest $6,000.

    • By the Exact Method, it’s his exact income, which is $75,000 multiplied by 7.5% of it, that is, 0.075.

    Thus:

    75000 \times 0.075 = 5625

    Using the Exact Method, Hector should invest $5,625.

    A similar problem is given at https://brainly.com/question/18131403

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