Micah takes a job with a starting salary of $78,000 for the first year. He earns a 4% increase each year. How much does Micah ma

Question

Nataliya [291]

4 years ago

6

Micah takes a job with a starting salary of $78,000 for the first year. He earns a 4% increase each year. How much does Micah ma

ke over seven years? $567,840 $616,067 $718,710 $718,499

Mathematics

2 answers:

kodGreya [7K] · Answer 1 · 2021-12-29T10:48:27+03:00

kodGreya [7K]4 years ago

8 0

Use the formula of the future value of an annuity ordinary which is
Fv=pmt [((1+r)^(t)-1)÷r]
Fv how much he made ?
PMT yearly salary 78000
R rate of increases 0.04
T time 7 years

Fv=78,000×(((1+0.04)^(7)−1)÷(0.04))
Fv=616,066.96 round your answer to get 616067

Ray Of Light [21] · Answer 2 · 2021-12-29T11:58:29+03:00

Ray Of Light [21]4 years ago

4 0

Answer:

b

Step-by-step explanation: