Question

√ Please Help Algebra ||, You have accepted a job from a company that will pay you $38,900 in the first year of employment and will give you a 3% raise for each year thereafter. How much will you earn if you work for that company for 5 years? Round to the nearest dollar as needed.

NeverMind I failed my quiz :(


`S_5=78,967\\ S_5=206,525\\ S_5=162,743\\ S_5=40,067`

Answer 1

To calculate the salary for each year, use the formula: Salary = Initial Salary * (1 + Percentage Increase)ⁿ. Plug in the values to find the salary for each year and sum them up to get the total earnings for 5 years.

Step-by-step explanation:

To find out how much you will earn if you work for the company for 5 years, we need to calculate the salary for each year. In the first year, you will earn $38,900. Then, for each subsequent year, your salary will increase by 3%. To calculate the salary for each year, we can use the formula:

Salary = Initial Salary * (1 + Percentage Increase)ⁿ

Plugging in the values, we get:

Year 1: Salary = $38,900

Year 2: Salary = $38,900 * (1 + 0.03) = $40,067

Year 3: Salary = $40,067 * (1 + 0.03) = $41,267

Year 4: Salary = $41,267 * (1 + 0.03) = $42,503

Year 5: Salary = $42,503 * (1 + 0.03) = $43,775

Therefore, if you work for the company for 5 years, you will earn approximately $43,775.

Answer 2

Answer: S5= 206,525

Step-by-step explanation:

Pretty easy just got to add 38,900 5 times and then add 3% of 38,900 which is 1,167. You start to add that 3% only adding it once but as you get to the third year you add 1,167 twice and so on and so forth. Also I got the answer right on my test for this one so I am confident with this answer.