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svp [43]
3 years ago
15

You just started a great part-time job that you want to keep for a while. Under the current contract, your annual salary is $31,

000. Every year you're promised raises of 2.2 percent per year. Calculate your annual salary ten years from today.
Business
1 answer:
Daniel [21]3 years ago
3 0

Answer:

$38,536.3567

Explanation:

Given that,

Annual salary = $31,000

Growth rate = 2.2 percent per year

Time period = 10 years

Salary 10 years from today:

= Current salary × (1 + Growth rate)^{Period}

= $31,000 × (1 + 0.022)^{10}

= $31,000 × 1.24310828

= $38,536.3567

Therefore, the annual salary of this person ten years from today is $38,536.3567.

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If interest rates increase due to inflation, but expected cash flows to a firm do not change, then you would expect stock prices
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4 years ago
Complete the following sentence.<br> The acronym ADA stand for<br> (tourism)
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3 years ago
PB1.
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Answer:

                                      Hicks

Income Statement for the year ended December 31, 2017

                                                            $

Sales revenue                               3,100,000

Cost of goods sold                       <u> (1,700,000)</u>

Gross profit                                   1,400,000

Administrative salaries                  (136,000)

Rent on corporate headquarters  (65,000)

Advertisement and marketing      (625,000)

Depreciation                                  <u> (90,000)</u>

Net income                                    <u> 484,000</u>

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