SOLUTION: Suppose a job could be obtained with a $20,000 starting salary and a 5% yearly increase each year thereafter. Derive an expression for the total gross income for the first 10 years

SOLUTION: Suppose a job could be obtained with a $20,000 starting salary and a 5% yearly increase each year thereafter. Derive an expression for the total gross income for the first 10 years

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Question 253066: Suppose a job could be obtained with a $20,000 starting salary and a 5% yearly increase each year thereafter. Derive an expression for the total gross income for the first 10 years.
Answer by hokies(65) (Show Source): You can put this solution on YOUR website!
Total Gross Income = (summation from i=0 to i=9):(20000*(1.05)^i)
the symbol for "summation" is the Greek capital letter for sigma
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