Question

You begin a job that has an annual salary of $33,500. You boss tells you that you will get a raise every year for the next 5 years, of 7%. At the end of those five years, what is the total amount of money you will have made?

Answer 1

$69,311.67 


2,345 is 7% of 33,500 There are many sites that can show you how to get a percentage so I am going to move onward. You will add the seven percent on each year, like the following

First Year: 33,500
Second Year: 35,845 (+7%=2,345)
Third Year:38,354.15 (+7%=2509.15)
Forth Year: 41,038.94 (+7%=2684.79)
Fifth Year: 69,311.67 (+7%=2,872.75)

Sorry for wait.