Question of The Day

A professional athlete was offered a three-year contract to play with Team K that provided for an annual salary of $100,000 in the first year, an increase in annual salary of 20% over the previous year for the next two years, and a bonus of $50,000 on signing. Team L offered a three-year contract providing for an annual salary of $150,000 in the first year, an increase in annual salary of 10% over the previous year for the next two years, and no sign-ing bonus. If he accepts the offer of Team L and fulfills the three-year contract terms, the athlete will receive how much more money by choosing Team L over Team K ?

$82,500