Ask Question
10 January, 10:28

If your starting salary is $50,000 and you receive a 4% 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?

+3
Answers (1)
  1. 10 January, 10:52
    0
    Hi there

    The formula is

    A=p (1+r) ^t

    A?

    P 50000

    R 0.04

    T 16 years

    So

    A=50,000 * (1+0.04) ^ (16)

    A=93,649

    Best of luck!
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If your starting salary is $50,000 and you receive a 4% increase at the end of every year, what is the total amount, in dollars, you will ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers