Question

Justine earned $26,000 during the first year of her job at city hall. After each year she received a 3% raise. Find her total earnings during the first five years on the job.

A. $138,037.53
B. $1,004,704.20
C.$4,020.51
D.$108,774.30
And could you show your work I need to see if i got my math right

Answer 1

To find how much each percentage is you need to make each one a fraction so 3/100 x 26000/1 your answer is 780 for 3 percent so her first raise makes it 26780 and 26000 plus 26780 is 52780 then keep adding 780 to 26000. So your answer would be A i think

Answer 2

First Year: $26000
Second Year: $26780 because 3% • $26000 = $780
Third Year: $27583.40 because 3% • $26780 = $803.40
Fourth Year: $28410. 90 because 3% • $27583.40 = $827.50
Fifth Year : $29263.23 because 3% • $28410. 90 = $852.33

$26000 + $26780 + $27583.40 + $28410. 90 + $29263.23 = $138037. 52

Your answer is A. $138037. 52