SOLUTION: A job pays 24000 KES for the first year. During the next 19 years, the salary increases by 5% each year. What is the total lifetime salary over the 20 year period?

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Question 1187169: A job pays 24000 KES for the first year. During the next 19 years, the salary increases by 5%
each year. What is the total lifetime salary over the 20 year period?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
24000 is a
r=1.05
S=(24000(1-1.05^20)/-0.05 a(1-r^n)/(1-r)
=793,582.90 KES