Question

A person's annual salary starts out at $50000. In scenario 1, the person receives an annual raise of $3500. What is her annual salary after 9 years? After 27 years?

In scenario 2 the person receives an annual raise of 3.5%. What is her annual salary after 9 years? After 27 years?

Answer 1

#1. after x years, her salary is 50000+3500x
#1 her salary is 50000 * 1.035^x

so plug in your numbers