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?

Question

answer is 45,648, how??

Answer 1

This just the sum of the first 12 terms of a geometric sequence with

a = 3600
r = 1.01

So,

3600 * (1.01^12 - 1)/(1.01-1) = 45,657

Not quite sure how to get your answer.