SOLUTION: Hi-I'm stumped. A job pays a salary of 30,000the first year. During 23 years the salary increases by 8% each year. What is the total lifetime salary over 24-year period. Th

Question 771610: Hi-I'm stumped.
A job pays a salary of 30,000the first year.
During 23 years the salary increases by 8% each year.
What is the total lifetime salary over 24-year period.
The lifetime salary is approximately? round off to nearest dollar amount.
Thanks
I got 2,002,943 but that's not correct:(
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
let = the current year by year salary
Let = the 1st years salary
---------------
What is wanted is:
. . . up to
which is the lifetime salary
The sequence looks like
. . .
--------------
The formula for this sum is:

I got your answer.
The method seems right.
???

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