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 $75,000 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 signing 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 ? Choose the correct choice from the following answers.
A) $32,500	B) $57,500	C) $82,500	D) $92,000	E) $100,000
Team K's contract = $100,000 + $100,000*1.2 + $100,000*1.2*1.2 + $75,000 = $439,000   Team L's contract = $150,000 + $150,000*1.1 + $150,000*1.1*1.1 = $496,500   The difference = $57,500.   Answer: $57,500.
<result>B</result>
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 $75,000 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 signing 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 ?