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A company gives a starting salary of $50,000 and to increase the salary by 4% annually. What will be this salary after 3 years?

A company gives a starting salary of $50,000 and to increase the salary by 4% annually. What will be this salary after 3 years?
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14 votes
A company gives a starting salary of $50,000 and to increase the salary by

4% annually. What will be this salary after 3 years?

User BoDeX
by
8.3k points

1 Answer

12 votes

Answer:

$56243.20

Explanation:

the equation would be 50000(1+4%)^3. Solve for that and get your answer.

User Putnik
by
8.0k points
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