Suppose that you have just been hired at an annual salary of $85,000 and expect to receive an annual raise of 6% per year. What
1 answer:
Answer:
$125,800
Step-by-step explanation:
Amount (A) = ?
Principal (P) = $85,000
Rate (r) = 6%
Time (t) = 8 years
Simple interest formula;
A = P(1 + rt)
A = $85,000(1 + 0.48)
A = $125,800
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