Question

Als starting Salary at her new job is $41,300. It is expected to increase by 3% each

Answer 1

Answer:

$1,379.17

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r)^t, where r is the intererest rate as a decimal fraction.

Here A = ($1,300)(1 + 0.03)^2

            = ($1,300)(1.03)^2  =  $1,379.17