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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>

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Harry buys a TV priced at £1200 plus 20% VAT.
RoseWind [281]

Answer:

£ 114

Step-by-step explanation:

From the question given above, the following data were obtained:

Price of TV = £ 1200

VAT = 20%

Amount paid = £ 300

Amount paid monthly =.?

Next, we shall determine the VAT. This can be obtained as follow:

VAT = 20% of price of TV

VAT = 20/100 × 1200

VAT = £ 240

Next, we shall determine the total cost of the TV. This can be obtained as follow:

Price of TV = £ 1200

VAT = £ 240

Total cost of TV =?

Total cost = Price + VAT

Total cost = 1200 + 240

Total cost = £ 1440

Next, we shall determine the balance amount he needs to pay. This can be obtained as follow:

Total cost = £ 1440

Amount paid = £ 300

Balance amount =?

Balance = Total cost – Amount paid

Balance = 1440 – 300

Balance = £ 1140

Finally, we shall determine the amount Harry will pay month.

Balance Amount = £ 1140

Number of months = 10

Amount paid monthly =.?

Amount paid monthly = Balance / number of month

Amount paid monthly = 1140 / 10

Amount paid monthly = £ 114

Therefore, Harry will pay £ 114 monthly.

4 0
2 years ago
Whats the answer for 6b+7-2b=1+5b
Alecsey [184]

Solution,6b+7-2b=1+5b\quad :\quad b=6

Steps:

6b+7-2b=1+5b

\mathrm{Group\:like\:terms}, 6b-2b+7=1+5b

\mathrm{Add\:similar\:elements:}\:6b-2b=4b, 4b+7=1+5b

\mathrm{Subtract\:}7\mathrm{\:from\:both\:sides}, 4b+7-7=1+5b-7

\mathrm{Simplify}, 4b=5b-6

\mathrm{Subtract\:}5b\mathrm{\:from\:both\:sides}, 4b-5b=5b-6-5b

\mathrm{Simplify}, -b=-6

\mathrm{Divide\:both\:sides\:by\:}-1, \frac{-b}{-1}=\frac{-6}{-1}

\mathrm{Simplify}, b=6

\mathrm{The\:Correct\:Answer\:is\:b=6}

\mathrm{Hope\:This\:Helps!!!}

\mathrm{-Austint1414}

3 0
3 years ago
Read 2 more answers
Using the 10% value to find 20% of 300
neonofarm [45]
20% * 300 = 2 * (10% * 300) = 2*30 = 60
3 0
3 years ago
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