A college graduate expects to earn a salary of $50,000 during the first year after graduation and receive a 3% raise every year after that. What is the total income he will have received after ten years?

For this case we have a function of the form:

y = A * (b) ^ t

Where,

A: initial amount

b: growth rate

t: time

Substituting values we have:

y = 50000 * (1.03) ^ t

For 10 years we have:

y = 50000 * (1.03) ^ 10

y = 67195.81897 $

Answer:

the total income he will have received after ten years is:

y = 67195.81897 $