Shane is thinking about apprenticing as a plumber and notes that master plumbers in his region of the country make about​ $55,000 a year starting out.​ However, salaries are expected to increase by about 10 percent over the next four years. How much can Shane expect to make when his apprenticeship is over in four​ years? (in dollars)

Question

So the answer will be $220,000 or is that incorrect.

Answer 1

HUH? Increase by four times? I'd love to go to work there!
Do a sanity check.

55000 * 1.10^4 = 80,525.50

Answer 2

if it increases by 10% you multiply by 1.10 each year.