A college graduate expects to earn a salary of 50000 during the first year after graduation and recieive a 3% raise every year for 10 years

Question

Madalynn Gilbert

Mathematics

27 May, 01:09

A college graduate expects to earn a salary of 50000 during the first year after graduation and recieive a 3% raise every year for 10 years

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Answers (1)

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Cookie Dough · Answer 1

50,000 (1.03) ^10=Y is the equation you would use to solve this, and this is how to solve it:

50,000 (1.03) ^10

50,000 (1.34)

67,000

so his salary after 10 years will be $67,000.00