Question

You are offered a job that pays ​$42000 during the first​ year, with an annual increase of 10​% per year beginning in the second year. That​ is, beginning in year​ 2, your salary will be 1.1 times what it was in the previous year. What can you expect to earn in your fourth year on the​ job?

Answer 1

Answer:

$55,902 is the amount I can expect to earn in the fourth year

Explanation:

Remember Salary increases by 10% each year

Salary in Year 1 : 42,000

Salary in Year 2: 42,000 x 1.1 = $46,200

Salary in Year 3: 46,200 x 1.1 = $50,820

Salary in Year 4: 50,820 x 1.1 = $55,902