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Alborosie
2 years ago
8

If your starting salary is 40,000 and you receive a 3% increase at the end of every year, what is the total amount, in dollars,

you will earn over the first 16 years that you work?
Mathematics
1 answer:
Molodets [167]2 years ago
5 0

Answer:

$64188.26

Step-by-step explanation:

→ Calculate the increase in decimal multiplier

( 100 + 3 ) ÷ 100 = 1.03

→ Multiply this by the salary raised to the power of 16

40000 × ( 1.03 )¹⁶

→ Solve

$64188.26

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