1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zimovet [89]
3 years ago
5

If your starting salary were $40,000 and you received a 3% increase at the end of every year for 15 years, what will be the amou

nt, in dollars, you will earn during your 16th year working there?
Mathematics
1 answer:
Valentin [98]3 years ago
7 0

Answer:

<u>The salary during the 16th year will be US$ 62,318.70</u>

Step-by-step explanation:

Starting salary = US$ 40,000

Duration of the job contract = 15 years

Salary increase rate = 3% compounded annually

2. Let's find the future value of this starting salary after 15 years, using the following formula:

FV = PV * (1 + r) ⁿ

PV = Starting salary = US$ 40,000

number of periods (n) = 15 (15 years compounded annually)

Salary increase rate (r) = 3% = 0.03

Replacing with the real values, we have:

FV = 40,000 * (1 + 0.03) ¹⁵

FV = 40,000 * (1.03) ¹⁵

FV = 40,000 * 1.558

FV = US$ 62,318.70

<u>The salary during the 16th year will be US$ 62,318.70</u>

You might be interested in
Y=750x+20,000 and y=950x+27,000 compare the two equations and summarize their differences
Lostsunrise [7]

Answer:

y = 200x + 7000

Step-by-step explanation:

950x-750x=200x

27,000-20,000=7000

hope this helps

6 0
2 years ago
A 20-foot cable hangs from the top of a building that is 50 feet high. if the cable weighs 2 pounds per foot, how much work is d
pychu [463]
20*2=40
40*50=2000
2000/60=33.33
about 33 hours by lifting by hand
4 0
2 years ago
Determine the equation of the line with slope 3 that passes through the point M(1, 2).
Mandarinka [93]

Answer:

Step-by-step explanation:

We are given the slope along with an (x, y) coordinate with which to write the equation.  You could use this info in the slope-intercept form and solve for b, or you could use this info in the point-slope form and solve it for y.  Trust me when I tell you that either one will get you the correct equation.  Promise!  I used the point-slope form, just because.  ; )

y - 2 = 3(x - 1) and

y - 2 = 3x - 3 and

y = 3x - 1 OR in standard form, we will put the x and y terms on the same side of the equals sign, separated from the constant:

-3x + y = -1.  But if we get picky and do not like to lead with negatives, we could change ALL the signs to their opposites (which is the same as multiplying the whole thing by a -1) to get

3x - y = 1 which is the third choice down.

4 0
2 years ago
What is the median of the data set?
gizmo_the_mogwai [7]
7. because you would put the number set into order from least to greatest first, ti would look like this: 2,3,4,5,9,10,12,12. then go to the middle, crossing one from each side off at one time. Then you get 5 and 9 in the middle. Then the middle between 5 and 9 is seven, you can check this by: 5+9=14, then 14/2= 7.
Your median is 7.
6 0
2 years ago
Helpppppppppppp 33points
Evgen [1.6K]

1st page: it is the fourth answer, y is less than or equal to 12

2nd page: it is the second answer, m is less than or equal to 450

3rd page: it is the first answer, x > -3

4th page: it is the fourth answer, b is more than or equal to 500

5 0
3 years ago
Other questions:
  • Joanne buys a car for $1500 after 12 months Joanne is forced to sell the car for 10% less than what she brought it for, how much
    10·1 answer
  • The price of a community pool membership has a one-time sign-up fee and a monthly fee. The price can be modeled by the function
    8·2 answers
  • Which of the following is an example of dependent events?
    7·2 answers
  • Which expression is equivalent to
    7·2 answers
  • Solve for X-4 1/6 = 9 1/3
    10·1 answer
  • What are the x-intercepts of this quadratic function?<br> g(x) = -2(x - 4)(x + 1)
    11·1 answer
  • Which expressions are equivalent to the one below? Check all that apply. <br><br> 16^x/4^x
    11·2 answers
  • PLSSSSSSS HELPPPPPPP I WILL GIVE BRAINLIESTTTTTTTTTT!!!!!!!!!!!!!!!!!!!!!PLSSSSSSS HELPPPPPPP I WILL GIVE BRAINLIESTTTTTTTTTT!!!
    12·1 answer
  • No Links No anything will give brainliest
    5·1 answer
  • 2. What is the tangent ratio of angle &amp; within a right triangle?
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!