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. in progress 0 12 mins 2022-05-14T11:58:34+00:00 1 Answer 0 views 0 ## Answers ( ) 1. 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:

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:

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

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