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a college graduate experts to earn a salary of $60,000 durning the first year after graduation and receive 4% raise every year after that . what is the total income he will have after ten years?
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a college graduate experts to earn a salary of $60,000 durning the first year after graduation and receive 4% raise every year after that . what is the total income he will have after ten years?

User Tobias Krogh
by
7.1k points

2 Answers

4 votes

Answer:

$720,366.43

Explanation:

a college graduate experts to earn a salary of $60,000 durning the first year after-example-1
User Stacyann
by
7.8k points
2 votes
Hi there

The formula is
A=p (1+r)^t
A total income?
P salary 60000
R rate of increases 0.04
T time 10 years

A=60,000×(1+0.04)^(10)
A=88,814.7 round your answer
A=88815

Hope it helps
User Pescolly
by
6.9k points
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