SOLUTION: Company Y offers you a job with a starting salary of $26,000.Each year,you receive a 5% raise on your previous salary.How much you would earn in each of your first 5 years of emplo

Question 800761: Company Y offers you a job with a starting salary of $26,000.Each year,you receive a 5% raise on your previous salary.How much you would earn in each of your first 5 years of employment?
Found 2 solutions by harpazo, josmiceli:
Answer by harpazo(655) (Show Source): You can put this solution on YOUR website!
Year One:
26,000 x 0.05 = 1300
26,000 + 1300 = 27,300
For year two, multiply 27,300 by 0.05 and then add to 27,300 to find your salary for year two.
Do the same with the remaining years.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
For now, let = the starting salary
1st yr:

2nd yr:

3rd yr:

4th yr:

5th yr:

-------------------
1st yr:
$26,000
-------
2nd yr:

$27,300
-------
3rd yr:

$28,665
-------
4th yr:

$30,097.60
-----------
5th yr:

$31,603.16

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