The value of 7 in 375,081 is 7000
1 answer:
You might be interested in
Answer:
Nat's salary after 3 years = 976562.5 $
Explanation:
Salary of Nat = $500,000
Raise in salary for next three years = 25 % = 0.25
Salary of Nat after 1 year = 500,000 + 0.25 * 500,000 = 625000 $
Salary of Nat after 2 years = 625000 + 0.25 * 625000 = 781250 $
Salary of Nat after 3 years = 781250 + 0.25 * 781250 = 976562.5 $
So, Nat's salary after 3 years = 976562.5 $
Easy Method;
No of years considering = 3
Initial salary = $500,000
Rate of increase = 0.25
Final salary $
Nat's salary after 3 years = 976562.5 $