Question
Your annual starting salary is $50,247. After working for a few years, you start to get yearly raises. If you get a 0.6% raise a total of 4 times and then a 1.6% raise a total of 6 times, what is your salary after all the raises?
Answers
henry2,
P1 = 50,247(1+0.006)^4 = 51,463.82.
P = 51,463.82(1+0.016)^6 = $___
P = 51,463.82(1+0.016)^6 = $___