Question

Jeannette's starting salary is $25,000 a year. She will get a 4% raise annually. How much money will she have made after 7 years?
A. $165,824.39
B. $197,457.36
C. $230,355.66
D. $256,355.66

Answer 1

Use the formula for a geometric progression:
\[S _{n}=\frac{a(r ^{n}-1)}{r-1}=\frac{25000(1.04^{7}-1)}{1.04-1}=you\ can\ calculate\]