SOLUTION: During a job interview, Pam Thompson is offered a salary of $39,000. The company gives annual raises of 9 percent. What would be Pam�s salary during her fifth year on the job?

Question 585027: During a job interview, Pam Thompson is offered a salary of $39,000. The company gives annual raises of 9 percent. What would be Pam�s salary during her fifth year on the job?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
After 1st year:
39k + = 42,510
After 2nd year:
42,510 + = 46335.90
The formula for this is:

where is the year before the one she's in
so, if she's in her 3rd year:

So, if she's in her 5th year

Her salary during her 5th year is $55,051.68
I think this is right, but you can get a 2nd opinion, too
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