document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1096965>Question 1096965</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mary has accepted a teaching job that pays &#8203;$25,000 for the first year. According to the&#8203; Teacher's Union, Mary will get guaranteed salary increases of 3% per year. If Mary plans to teach for 27 years, what will be her total salary&#8203; earnings? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #711356 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=711356\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Sum of a geometric series with ratio=1.03<BR>\n" );
document.write( "S=A(1-r^n)/(1-r). n=27, r=1.03<BR>\n" );
document.write( "S=25000(1-(1-0.03^27))/(1-(1.03)); the fraction is 40.709, but round at end<BR>\n" );
document.write( "S=$1,017,740.84<BR>\n" );
document.write( "Rough check. Without the increase in salary, $25,000 for 27 years is $675,000.\r<BR>\n" );
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