Find the difference between the two final values

Reference no: EM132158681

Question: An arithmetic gradient is to be used to approximate a geometric gradient for an engineer's salary, which is $35,000 initially. Both models assume the same raise for the second year. What is the maximum annual raise and corresponding rate of increase that result in less than a 10% difference between the two final values at the end of 5 years?

Reference no: EM132158681

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