SOLUTION: Calculating future value of salary. During a job interview, Pam Thompson is offered a salary of 28,000. The company gives annual raises of 6 percent. What would be Pam's salary dur
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Question 562541: Calculating future value of salary. During a job interview, Pam Thompson is offered a salary of 28,000. The company gives annual raises of 6 percent. What would be Pam's salary during her fifth year on the job?
Found 2 solutions by solver91311, josmiceli:
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
^5)
Get out your calculator.
John
My calculator said it, I believe it, that settles it
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Call the 1st years salary
Call the annual raise
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1st year:
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2nd year:
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3rd year:
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4th year:
--------
5th year:
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Given:
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Pam's salary during 5th year is $35,349.35
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