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?

Answer 1

For this case we have a function of the form:
 y = A * (b) ^ t
 Where,
 A: initial amount
 b: growth rate
 t: time
 Substituting values we have:
 y = 50000 * (1.03) ^ t
 For 10 years we have:
 y = 50000 * (1.03) ^ 10
 y = 67195.81897 $
 Answer:
 the total income he will have received after ten years is:
 y = 67195.81897 $

Answer 2

Answer:

APEX

$573,193.97

Step-by-step explanation: