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Justine earned $17,000 during the first year of her job at city hall. After each year she received a...
4 months ago
Q:
Justine earned $17,000 during the first year of her job at city hall. After each year she received a 4% raise. Find her total earnings during the first five years on the job.
Accepted Solution
A:
= $17,000.00 + $17,000.00(1 + SUM[1.04]⁴)
= $17,000.00(1 + 4.41632256)
= $17,000.00(5.41632256)
= $92,077.48
Answer: $92,077.48