Question

Harmony earns 42,000 salary in the first year of her career. Each year, she gets a 4% raise. Which expression gives the total amount Harmony has earned in her first n years of her career?

Answer 1

I got 42,000(1-1.04^n/-0.04)

Explanation:

From Khan

Answer 2

`A=42000(1.04)^n`

Explanation:

This is a compound interest formula expressed as:

`A=P(1+i)^n`

Where

• 
  `n` is time in years
• 
  `i` is the rate of interest
• 
  `A` is the accumulated amount after n years
• 
  `P` is the initial amount.

#We substitute the given values to determine amount after n years as follows:

`A=P(1+i)^n\\\\=42000(1+0.04)^n\\\\=42000(1.04)^n`

Hence, the amount earned after n years of her career is given by
`A=42000(1.04)^n`