Question

1. (5 points) Suppose over the past 6 years, you have earn annual raises.

6
Three times your raise was 4%, twice you received only a 2% raise and one
you received a 10% raise. If your current salary is $85,000, what was your
salary before all of those raises?

Answer 1

9514 1404 393

Answer:

$66,027.66

Explanation:

The multiplier for the salary with each raise is (1 + raise). That means the original salary is multiplied by ...

(1.04^3)×(1.02^2)×(1.10) = 1.28733935616 = k

Your original salary (O) satisfies ...

O×k = $85,000

O = $85,000/k ≈ $66,027.66 . . . original salary