Question

You accept a job that pays a salary of $70,000 for the first year. During the next 29 years you receive a 4% raise each year. What would be your total compensation over the 30-year period? (Round your answer to two decimal places.)

Name: you accept a job that pays a salary of 70000 for the first year during the next 29 years you receive a 4 raise each year what would be your total compensation over the 30 year period round y 24323
Uploaded: 2021-11-29T22:12:12-08:00
Duration: 1 min 42 s
Channel: James Kiss
Description: you accept a job that pays a salary of 70000 for the first year during the next 29 years you receive a 4 raise each year what would be your total compensation over the 30 year period round y 24323

          You accept a job that pays a salary of $70,000 for the first
year. During the next 29 years you receive a 4% raise each year.
What would be your total compensation over the 30-year period?
(Round your answer to two decimal places.)

Added by Timothy B.

Precalculus with Limits

Ron Larson 2nd Edition

Instant Answer

Solved by Expert James Kiss

11/29/2021

Step 1

- For the second year: $70,000 * 1.04 = $72,800 - For the third year: $72,800 * 1.04 = $75,712 - Continue this pattern for 29 more years. Show more…

Show all steps

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You accept a job that pays a salary of $70,000 for the first year. During the next 29 years you receive a 4% raise each year. What would be your total compensation over the 30-year period? (Round your answer to two decimal places.)