Question

An employee receives a 2% raise once per year. If the employee's initial salary is $60,000.00, what will

the employee's salary be after 9 years?
I.

Answer 1

The employee's salary after 9 years will be$70800

Explanation:

find the % raise of the salary per year:2%×$60000=$1200

Then multiply the raise by the number of years:$1200×9=$10800

finally add the product with the initial salary:$10800+$60000=$70800