Question

Abi takes a job with a starting salary of $100,000 for the first year. She earns a 3% increase each year. How much does Abi make over six years?

Answer 1

Answer:

$119,405.22

Step-by-step explanation:

Abi takes a job with a starting salary of $100,000 for the first year.

She earns a 3% increase each year.

We have to calculate the salary over six years.

Formula = $A=P(1+\frac{r}{n})^{nt}$

Now put the values in formula

$A=100,000(1+\frac{0.03}{1})^{(1)(6)}$

$A=100,000(1+\frac{0.03}{1})^{6}$

A = 100,000 × 1.1940522965

A = 119,405.22

Abi makes salary $119,405.22 over six years.

Answer 2

Answer: $646,841

Step-by-step explanation: I just took the edge quiz this is the answer