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Pologirl19

Justine earned $26000 during the first year of her job at city hall. After each year she received a 3% raise. find her total earnings during the first five years on the job.

  • one year ago
  • one year ago

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  1. TrashMan914
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    You need to find what 3% of 26,000 is. Then, multiply that by five, giving you the total cash number of interest, which can be added on the 26k to find her total earnings.

    • one year ago
  2. Pologirl19
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    I am still a little confused

    • one year ago
  3. TrashMan914
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    if 1.00 is 100 percent, then 3 percent would be 0.03, which can be multiplied by 26000.

    • one year ago
  4. Pologirl19
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    okay but that does not equal any of my answers

    • one year ago
  5. Pologirl19
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    $138,037.53 $1,004,704.20 $4,020.51 $108,774.30

    • one year ago
  6. Pologirl19
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    Those are my answers

    • one year ago
  7. TrashMan914
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    Ohh, perhaps I have read this wrong, or I am missing something. Rewriting it, it's 26000 + 3% per year, over five years. We know she made 26000 the first year. 26000 * 0.03 = 780 780 + 26000 = 26780 26780 + 26000 = 52780 She made 52780 the first two years. Following this, we can take 26780, the previous year's income, and multiply it by 0.03 again. Rinse and repeat, it'll get an answer.

    • one year ago
  8. TrashMan914
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    I can work it out, in case you're still confused, if you can attempt it first.

    • one year ago
  9. Pologirl19
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    So I did that but it did not get me any of the answers

    • one year ago
  10. TrashMan914
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    What number did you get?

    • one year ago
  11. Pologirl19
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    26804.12306

    • one year ago
  12. TrashMan914
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    Hmm. That'd be for one year, but we are looking for all of the years combined: In order of years: 26000 26780 27583.4 28410.902 29263.22906 There's five years, so we need to add them all together. $138,915.4279318 total, which is quite close to one of your answers.

    • one year ago
  13. Pologirl19
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    how did you get 27583.4

    • one year ago
  14. Pologirl19
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    @TrashMan914

    • one year ago
  15. TrashMan914
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    26780 * 0.03 = 803.4 803.4 + 26780 = 27583.4

    • one year ago
  16. Pologirl19
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    Oh okay makes sense thank you!!

    • one year ago
  17. TrashMan914
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    No problem.

    • one year ago
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