SOLUTION: Suppose you have been hired at an annual salary of $24,000 and expect to recieve an annual increase of 4%. What will your salary be for your fifth year of work?

SOLUTION: Suppose you have been hired at an annual salary of $24,000 and expect to recieve an annual increase of 4%. What will your salary be for your fifth year of work?

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Question 245564: Suppose you have been hired at an annual salary of $24,000 and expect to recieve an annual increase of 4%. What will your salary be for your fifth year of work?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
24,000(1+.04)^5
24,000*1.04^2
24,000*1.0816=$25,958.40 ans. fot the salary in the fifth year.
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