A college graduate experts to earn a salary of $60,000 durning the first year after graduation and receives a 4% raise every year after that. what is the total income he will have received after ten years?

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Mathematics

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18 September, 23:24

A college graduate experts to earn a salary of $60,000 durning the first year after graduation and receives a 4% raise every year after that. what is the total income he will have received after ten years?

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Answers (1)

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Rebecca · Answer 1

Answer:$720,366.43

Step-by-step explanation:

So, there is an exponential growth formula you use.

First, write the initial cost which is

60,000

Then write 1 + the percentage of growth rate which is 0.04 percent. Then, right the time as an exponent after certain amount of years.

60,000 (1+0.04) ^10

60,000 (1.04) ^10

Plug this in a calculator