Muriel has accepted a job with a starting salary of $22,000 and annual raises of 3%. What will her salary be during her fourth year of the job?

Question

anonymous · Answer

Her first year is just 22,000

2nd is (22,000)(1.03)

3rd is (22,000)(1.03)(1.03)   =  (22,000)(1.03)^2

4th is (22,000)(1.03)(1.03)(1.03)   =  (22,000)(1.03)^3

anonymous · Answer

so do i just solve the last part you put and that'll be my answer?

anonymous · Answer

Yes, that looks like:

That becomes:

(22,000)(1.092727) = 24039.994

anonymous · Answer

Your answer might be rounded to be either :

24039.99    or     24040.00

anonymous · Answer

i think ill just put 24039.9 to be safe itll work both ways for the teacher i believe :p thank you

anonymous · Answer

uw!