A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 one year ago
A college graduate expects to earn a salary of $50,000 during the first year after graduation and receive a 3% raise every year after that. What is the total income he will have received after ten years?
A. $640,389.78
B. $573,193.97
C. $515,000.00
D. $507,955.31
anonymous
 one year ago
A college graduate expects to earn a salary of $50,000 during the first year after graduation and receive a 3% raise every year after that. What is the total income he will have received after ten years? A. $640,389.78 B. $573,193.97 C. $515,000.00 D. $507,955.31

This Question is Closed

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Initial salary is 50, 000 for the 1st year, 3 % of 50,000 is 15,000.. so for the 2nd year, 50,000 + 3% raise (15,000) = 65,000 so for the 3rd year is getting the 3% of 65,000 then add them up. Once you get the final answer get the 3% of that and repeat the steps until you reached the 10th year.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0what is the equation?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0\[S _{n}=a _{1}\frac{ 1r^n }{ 1r }\]

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0That's a geometric series where a1 is the $50000 he makes in the 1st year and r = 0.03, the raise

sepeario
 one year ago
Best ResponseYou've already chosen the best response.0^^ such sophistication lol :)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0what do i put in the variables?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0well .. they got here first. LOL

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0rather, 1.03 for r and 50000 for a1

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0okay. i got $573,193.97 is that right?
Ask your own question
Sign UpFind more explanations on OpenStudy
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.