Question

Joe's annual income has been increasing each year by the same dollar amount. The first year his income was ​$20,400 and the 11th year his income was ​$31,400. In which year was his income $40,200?

Answer 1

Joe's income was $40,200 in the 18th year.

Step-by-step explanation:

To find the year in which Joe's income was $40,200, we need to determine the rate at which his income increases each year.

Given that his income increased by the same dollar amount each year, we can calculate the increase by subtracting his income in the first year from his income in the 11th year: $31,400 - $20,400 = $11,000.

Next, we can divide the increase in income by the number of years to find the increase per year: $11,000 ÷ 10 = $1,100.

Finally, to find the number of years it takes for his income to reach $40,200, we can divide the difference between $40,200 and $20,400 by the increase per year: ($40,200 - $20,400) ÷ $1,100 = 18.

Therefore, Joe's income was $40,200 in the 18th year.

Answer 2

Answer: 18th year
In this question, the income is increasing each year with the same amount, first-year income is $20,400 and 11th-year income is $31,400. From this information, you can determine how much the income increases every year. The calculation would be:

Income year Y= first income + {(Y-1) * income increase per year )}
$31,400= $20,400 + 10 * income increase per year
10* income increase per year= $11000
income increase per year= $1100

Using the same formula you can find the answer

Income year Y= first income + {(Y-1) * income increase per year )}
$40,200= $20,400 + Y* 1100
1100Y= 40,200-20,400= 19800
Y= 19800/1100= 18 year.