Question

"Kevin just got hired for a new job and will make $63,000 in his first year. Kevin was told that he can expect to get raises of $4,500 every year going forward. How much money in salary would Kevin make in his 5th year working at this job? Round to the nearest tenth (if necessary).

a) $81,000
b) $76,500
c) $72,000
d) $67,500"

Answer 1

To compute Kevin's salary in the 5th year, multiply the annual raise of $4,500 by 4 (since no raise is received in the first year) and add the sum to the starting salary of $63,000. The calculated 5th year salary is $81,000.

Step-by-step explanation:

To find out how much Kevin would make in his 5th year at his job, you need to calculate the total raises he will receive by then and add it to his starting salary. You do this by multiplying the annual raise amount by the number of years he will have received raises and then adding that to his starting salary.

Step-by-step calculation:

1. Determine the starting salary, which is $63,000.
2. Calculate the total amount of raises after 4 years since he does not get a raise in the first year: 4 raises * $4,500 per raise = $18,000.
3. Add the total raises to the starting salary: $63,000 starting salary + $18,000 in raises = $81,000.

Therefore, in his 5th year, Kevin's salary would be $81,000, which corresponds to option (a).