Question 1096821: Find last year's salary if, after a 4 %4% pay raise, this year's salary is $ 34 comma 840$34,840. Found 2 solutions by Boreal, Edwin McCravy:Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! P=Po(1+r)^n is general formula for interest. P is new salary, Po the beginning salary.
34,840=Po(1+.04); the new salary after a raise of the old salary for 1 year.
1.04Po=34840
Po=$33500, initial salary.
