Problema Solution
the starting salary for a new employee is 25,000. the salary for this employee increases by 8% per year. what is the salary after each of the following?
a. 1 yr
b. 3 yr
c. 5 yr
d. 15 yr
Answer provided by our tutors
25000(1.08)1 =
$27,000 after one year
25000(1.08)3 =
$31,492.80 after 3 years
25000(1.08)5 =
$36,733.20 after 5 years
25000(1.08)15 =
$79,304 after 15 years