an employee is paid $3600 for the first month. she is paid an additional 1% at the end of the second month, which means a total of $3636. she continues to receive a 1% raise each month for a full year. what is her total salary at the end of the year?

Answer 1

We have a GS with a = 3600 and r = 1.01 , n = 12

sum(12) = a(r^12 - 1)/(r-1)
= 3600(1.01^12 - 1)/.01
= 45,657.01

Answer 2

The answer in my textbook says its $45,648.