Question

Harmony earns 42,000 salary in the first year of her career. Each year, she gets a 4% raise. Which expression gives the total amount Harmony has earned in her first n years of her career?

Answer 1

Answer:

I got 42,000(1-1.04^n/-0.04)

Step-by-step explanation:

From Khan

Answer 2

Answer:

$A=42000(1.04)^n$

Step-by-step explanation:

This is a compound interest formula expressed as:

$A=P(1+i)^n$

Where

• $n$ is time in years
• $i$ is the rate of interest
• $A$ is the accumulated amount after n years
• $P$ is the initial amount.

#We substitute the given values to determine amount after n years as follows:

$A=P(1+i)^n\\\\=42000(1+0.04)^n\\\\=42000(1.04)^n$

Hence, the amount earned after n years of her career is given by $A=42000(1.04)^n$