Question

A baseball player signs a contract with a starting salary of $820,000 per year and an annual increase of 5% beginning in the second year. What will the athlete’s salary be, to the nearest dollars in the sixth year?

Answer 1

Answer:

Step-by-step explanation:

Salary in the sixth year

$=820,000*(1+\frac{5}{100})^{6}\\\\=820000*(\frac{105}{100})^{6}\\\\=820000*(1.05)^{6}\\\\=820000*1.34\\\\=1,098,878$