Problema Solution
If a person takes a job with a starting salary of $18,000 with annual raises of 5%, what will his salary be during the fifth year on the job?
(Show the formula you are using.)
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ans
year one: $18,000
year two: 18,000*1.05=18,900
year three: 18,900*1.05=19,845
year four: 19,845*1.05=20,837.25
year five: 20,837.25*1.05=$$21,879.11