Scheme 1) You get a starting salary of $100 per year, and then a $20 pay rise each year.
Scheme 2) You get a starting salary of $100 per year, and then a $5 pay rise every six months.
In either case, you are paid every 6 months. Which scheme is better?
As ever, please do NOT post your answers, but do say if you have a solution and how long it took. I will post the solution on Monday.