Question

A union has successfully negotiated for its members to get 5% raises

annually. If a union member currently has a salary of $36,000, what will
her salary be in 3 years?

Answer 1

After applying a 5% annual raise to the current salary of $36,000 over three years, the union member's salary will be $41,674.50.

Step-by-step explanation:

The student's question involves calculating the future salary after applying a 5% annual raise over a period of three years. Assuming the union member currently earns $36,000, the salary after the first year would be $36,000 plus a 5% raise, which is $36,000 * 1.05. After the second year, this new salary is raised by an additional 5%, and so on.

The calculation of the salary after three years would be:

1. Year 1: $36,000 * 1.05 = $37,800
2. Year 2: $37,800 * 1.05 = $39,690
3. Year 3: $39,690 * 1.05 = $41,674.50

Therefore, the union member's salary after three years would be $41,674.50.

Answer 2

If I did my calculations right,

Her salary would be around $41,674.5

I hope this helps!