Question

Linda earned $17,000 during the first year of her job at city hall. After each year, she received a 4% raise. Find her total earnings during the first 5 years on the job.

Answer 1

To calculate Linda's total earnings over the first 5 years, we will compute her salary for each year based on the 4% annual raise.

1. **First Year**: $17,000

2. **Second Year**:
\[
17,000 \times (1 + 0.04) = 17,000 \times 1.04 = 17,680
\]

3. **Third Year**:
\[
17,680 \times (1 + 0.04) = 17,680 \times 1.04 = 18,367.20
\]

4. **Fourth Year**:
\[
18,367.20 \times (1 + 0.04) = 18,367.20 \times 1.04 = 19,073.89
\]

5. **Fifth Year**:
\[
19,073.89 \times (1 + 0.04) = 19,073.89 \times 1.04 = 19,790.45
\]

Now, we will add up the earnings from each year:

\[
\text{Total Earnings} = 17,000 + 17,680 + 18,367.20 + 19,073.89 + 19,790.45
\]

Calculating the total:

\[
17,000 + 17,680 = 34,680
\]
\[
34,680 + 18,367.20 = 53,047.20
\]
\[
53,047.20 + 19,073.89 = 72,121.09
\]
\[
72,121.09 + 19,790.45 = 91,911.54
\]

Thus, Linda's total earnings during the first 5 years on the job is **$91,911.54**.