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Lilmike234
 one year ago
If your starting salary were 50,000 and you recieved a 4% increase at the end of every year for 15 years, what would be the total amount in dollars, you would have earned over the first 16 years that you would have worked?
Lilmike234
 one year ago
If your starting salary were 50,000 and you recieved a 4% increase at the end of every year for 15 years, what would be the total amount in dollars, you would have earned over the first 16 years that you would have worked?

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lilmike234
 one year ago
Best ResponseYou've already chosen the best response.0So my answer would be 11,250?

mathstudent55
 one year ago
Best ResponseYou've already chosen the best response.2\(~~~a_1~~~~ +~~~~ a_2~~~+ ~~~~a_3~~~ +~ ... +~~~~~ a_{16} \) \(50,000 + 52,000 + 54,080 +~ ...+ 90,047.17\) \(\Large S = a_1\times \dfrac{1  r^n}{1  r} \) where \(a_1\) = the first term r = the common ratio, and n = the number of terms \(\Large S = 50,000 \times \dfrac{1  (1.04)^{16}}{1  1.04}\) \(\Large S = 1,091,226.56\)
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