Phil is offered a 3-year contract with a law firm. His first year earnings would be $81,000 with an annual raise of 15%.

What would Phil's total earnings be over the term of the contract?

Enter your answer, rounded to two decimal places, in the box.

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Mathematics

26 April, 11:15

Phil is offered a 3-year contract with a law firm. His first year earnings would be $81,000 with an annual raise of 15%.

What would Phil's total earnings be over the term of the contract?

Enter your answer, rounded to two decimal places, in the box.

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Answers (1)

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Grace Scott · Answer 1

First year: $81000

Second year: 1.15 ($81000) = $93150

Third year: 1.15 ($93150) = $107122.50

Add these three together to get Phil's total salary over the 3 years of his contract.

Phil is offered a 3-year contract with a law firm. His first year earnings would be $81,000 with an annual raise of 15%.What would Phil's total earnings be over the term of the contract?Enter your answer, rounded to two decimal places, in the box.

Phil is offered a 3-year contract with a law firm. His first year earnings would be $81,000 with an annual raise of 15%.

What would Phil's total earnings be over the term of the contract?

Enter your answer, rounded to two decimal places, in the box.