anonymous
  • anonymous
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
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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anonymous
  • anonymous
@Hero @mathmate
anonymous
  • anonymous
Initial 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
  • anonymous
what is the equation?

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anonymous
  • anonymous
@HWBUSTER00
anonymous
  • anonymous
\[S _{n}=a _{1}\frac{ 1-r^n }{ 1-r }\]
anonymous
  • anonymous
That's a geometric series where a1 is the $50000 he makes in the 1st year and r = 0.03, the raise
Sepeario
  • Sepeario
^^ such sophistication lol :)
anonymous
  • anonymous
what do i put in the variables?
anonymous
  • anonymous
well .. they got here first. LOL
anonymous
  • anonymous
rather, 1.03 for r and 50000 for a1
anonymous
  • anonymous
okay. i got $573,193.97 is that right?
anonymous
  • anonymous
yes
anonymous
  • anonymous
yay thank you!

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