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. $515,000.00
B. $507,955.31
C. %640,389.78
D. $573,193.97

Question

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. $515,000.00
B. $507,955.31
C. %640,389.78
D. $573,193.97

anonymous · Answer

$$A = Pe ^{rt}$$

P = 50,000
e =  a constant that can be found on your calculator
r = is rate of increase in decimal (0.03)
t = time (10 years)

anonymous · Answer

@jaeuni youre supposed to use geometric sum