document.write( "Question 234163: please show me how to solve this word problem:
\n" ); document.write( "My dad earns $55000 a year. if he get a 20% annual raise for each year how much money will he have after 10 years assuming not spending any of his sallary? \n" ); document.write( "

Algebra.Com's Answer #172714 by MathTherapy(10858) $\"\"$ $\"About$

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please show me how to solve this word problem:
\n" ); document.write( "My dad earns $55000 a year. if he get a 20% annual raise for each year how much money will he have after 10 years assuming not spending any of his sallary?\r
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\n" ); document.write( "\n" ); document.write( "Since your dad's salary increases at 20% each year, then his annual salary increases exponentially\r
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\n" ); document.write( "\n" ); document.write( "An increase of 20% signifies that each year, his salary becomes 120%, or 1.2 of what it was the previous year, which makes the multiplying factor 1.2, with the exponent being the year that is being sought\r
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\n" ); document.write( "\n" ); document.write( "This calculates to the following equation:\r
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\n" ); document.write( "\n" ); document.write( "Salary at end of 10 years = $\"50000%2A%281.2%29%5E10\"$ \r
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\n" ); document.write( "\n" ); document.write( "Salary at end of 10 years = $\"50000%2A%286.191736422%29\"$ \r
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\n" ); document.write( "\n" ); document.write( "Therefore, salary at end of 10 years = $ $\"highlight_green%28340545.50%29\"$ \n" ); document.write( "

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