anonymous
  • anonymous
.) Determine the future value of education: Jenny Franklin estimates that as a result of completing her master’s degree, she will earn $7,000 a year more for the next 40 years. A.) What would be the total amount of these additional earnings?
Mathematics
katieb
  • katieb
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anonymous
  • anonymous
I came out at $7,000 x 40 which is $280,000, but my instructor told me to revise this.
anonymous
  • anonymous
its a problem that uses compounding. the idea is that the first year you would make x dollars, the second $7,000 more than x, the 3rd year you would make $14,000 more than x - so on and so forth..

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