Question

Justine earned $28,000 during the first year of her job at city hall. After each year she received a 6% raise. Find her total earnings during the first five years on the job.

Answer 1

$ 157838.60 in 5 years

Explanation:

r = 1.06

sum of geometric seq = a1 ( 1-r^n)/(1-r) n = 5

28000 ( 1 - 1.06^5) / ( 1-1.06) = 157838.60