Question 208034
I think in either case, you would use 10 for the time of the salary instead of 9.  At the end of the first year, you would have a $2000 raise, at the end of the 10th year, you would have 10 $2000 raises or $20,000, so your salary would be $30,000 + $20,000= $50,000.


The second would be using a formula for compound interest
{{{A= P(1 +r)^t}}} 
{{{A = $27000(1 + .08)^10}}}


Use a calculator:

{{{A = 58290.97}}}


R^2


Dr. Robert J. Rapalje
Seminole State College
Altamonte Springs, FL  31714