Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
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
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

This Question is Closed

TrashMan914Best ResponseYou've already chosen the best response.2
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

Pologirl19Best ResponseYou've already chosen the best response.0
I am still a little confused
 one year ago

TrashMan914Best ResponseYou've already chosen the best response.2
if 1.00 is 100 percent, then 3 percent would be 0.03, which can be multiplied by 26000.
 one year ago

Pologirl19Best ResponseYou've already chosen the best response.0
okay but that does not equal any of my answers
 one year ago

Pologirl19Best ResponseYou've already chosen the best response.0
$138,037.53 $1,004,704.20 $4,020.51 $108,774.30
 one year ago

Pologirl19Best ResponseYou've already chosen the best response.0
Those are my answers
 one year ago

TrashMan914Best ResponseYou've already chosen the best response.2
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

TrashMan914Best ResponseYou've already chosen the best response.2
I can work it out, in case you're still confused, if you can attempt it first.
 one year ago

Pologirl19Best ResponseYou've already chosen the best response.0
So I did that but it did not get me any of the answers
 one year ago

TrashMan914Best ResponseYou've already chosen the best response.2
What number did you get?
 one year ago

TrashMan914Best ResponseYou've already chosen the best response.2
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

Pologirl19Best ResponseYou've already chosen the best response.0
how did you get 27583.4
 one year ago

TrashMan914Best ResponseYou've already chosen the best response.2
26780 * 0.03 = 803.4 803.4 + 26780 = 27583.4
 one year ago

Pologirl19Best ResponseYou've already chosen the best response.0
Oh okay makes sense thank you!!
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.