Asked by Gisselle
The starting salary for a new empolyee is $25,000. The salary for this empolyee 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
Answers
Answered by
Steve
just plug in the values for t, using the formula
25000 * 1.08^t
For example, after 2 years, the salary is
25000 * 1.08^2 = 29160
25000 * 1.08^t
For example, after 2 years, the salary is
25000 * 1.08^2 = 29160
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