Question

NO LINKS!! Please help me with this problem. Part 3ff​

Answer 1

• a) $48700, b) $305200

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Given

• Starting salary = $38500,
• Annual increase = $1700.

Part A

The salary during the 7th year is:

• 38500 + 1700*(7 - 1) =
• 38500 + 1700*6 =
• 48700

Part B

Total compensation through full 7 years is base salary for 7 years and total of the annual increase:

• 38500*7 + 1700*(1 + 2 + 3 + 4 + 5 + 6) =
• 269500 + 1700*6/2*(1 + 6) =
• 269500 + 1700*21 =
• 305200