SOLUTION: Bill began his job with a salary of $25,500 per year. He received a 10% raise at the start of the second year. At the start of the third year, he got an additional 5% raise on his
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Question 1012823: Bill began his job with a salary of $25,500 per year. He received a 10% raise at the start of the second year. At the start of the third year, he got an additional 5% raise on his new salary; and at the start of the fourth year, a 2% raise on the third year’s salary. What is Bill’s salary in the fourth year Answer by fractalier(6550) (Show Source):
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Start of 1st year = 25500
Start of 2nd year = (1.1)(25500)
Start of 3rd year = (1.05)(1.1)(25500)
Start of 4th year = (1.02)(1.05)(1.1)(25500) = $30041.55
