SOLUTION: Architect Cristobal made $35,000 during the first year of his job. Each year, he received a 20% raise. What were his total earnings during the first ten years on the job?

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Question 1186210: Architect Cristobal made $35,000 during the first year of his job. Each year, he received a 20% raise. What were his total earnings during the first ten years on the job?
Answer by ikleyn(52814) About Me  (Show Source):
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Architect Cristobal made $35,000 during the first year of his job.
Each year, he received a 20% raise. What were his total earnings during the first ten years on the job?
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The sum of the first ten terms of the geometric progression with the first term of  a%5B1%5D = 35000
and the common ratio of  r = 1.2


    Sum = a%5B1%5D%2A%28%28r%5E10-1%29%2F%28r-1%29%29 = 35000%2A%28%281.2%5E10-1%29%2F%281.2-1%29%29 = 908553.87.


ANSWER.  $908,553.87.

Solved.