00:01
So this question is about two different options for a salary, but it says the first starting salary is $30 ,000.
00:08
And so we're going to call this option one.
00:13
Okay.
00:15
So you start with $30 ,000 and it says you're going to get a 2 .5 % increase per year for four years.
00:19
So you're going to go 1 plus 0 .025.
00:27
And you're going to get that four times.
00:31
Okay, in terms of the term.
00:33
Sorry, but i'm going to do a sum.
00:35
So let me just redo this.
00:40
As that's your starting salary, that's your a, your r is a two and a half percent increase of 1 .025.
00:48
Okay, so your sum, the total salary you're going to get is the sum of the first four terms.
00:57
Okay, so that means you're going to get 30 ,000 onto one minus 1 .025 to the 3 divided by, or to the 4, sorry, divided by 1 minus 1 .025.
01:18
You can do it that way, or you can go 30 ,000.
01:22
And if you do it on your calculator, i'll just show you this on a calculator.
01:27
You just take 30 ,000.
01:29
It'll be easier to do it this way, actually, and times it by 1 .025.
01:34
That's 30 ,750 the next year...