If your starting salary were $50,000 and you received 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 worked?

Question

jdoe0001 · Answer

use the "compound interest" formula and plug in your values
notice the Principal of 50,000, rate is 4%, period is 1 over 15 years

keep in mind that last year doesn't have any earned interest

anonymous · Answer

i still dont know how to get it