Question

Samir was offered a job that paid the salary of 82,000 and its first year the salary was set to increase by 3% per every year if Samir worked at the job for 21 years what was the total amount of money earned over the 21 years to the nearest total number

Answer 1

Explanation:

To find the total amount of money earned over 21 years, we can calculate the salary for each year and sum them up.

1. Year 1: The salary is $82,000.

2. Year 2: The salary increases by 3%, so it becomes $82,000 + (3% of $82,000).

3. Year 3: The salary increases by 3% again, so it becomes the previous year's salary + (3% of the previous year's salary).

4. We continue this pattern for each year, increasing the salary by 3% from the previous year's salary.

To calculate the total amount of money earned over the 21 years, we can add up the salaries for each year.

Here's an example calculation for the first few years:

Year 1: $82,000

Year 2: $82,000 + (3% of $82,000) = $82,000 + $2,460 = $84,460

Year 3: $84,460 + (3% of $84,460) = $84,460 + $2,533.80 = $86,993.80

We can continue this calculation for all 21 years and then sum up the salaries.

Please note that in this answer, I've assumed that the 3% increase applies to the previous year's salary. If this assumption is incorrect, please provide clarification, and I'll be happy to adjust the calculation accordingly.