Aaron was offered a job that paid a salary of $47,000 in its first year. The salary was set to increase by 7% per year every year. If Aaron worked at the job for 11 years, what was the total amount of money earned over the 11 years, to the nearest whole number?
Aaron was offered a job that paid a salary of $47,000 in its first year. The salary was set to increase by 7% per year every year. If Aaron worked at the job for 11 years, what was the total amount of money earned over the 11 years, to the nearest whole number?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter4: Rational Expressions
Section4.CM: Cumulative Review Problem Set
Problem 48CM
Related questions
Question
Aaron was offered a job that paid a salary of $47,000 in its first year. The salary was set to increase by 7% per year every year. If Aaron worked at the job for 11 years, what was the total amount of money earned over the 11 years, to the nearest whole number?
Expert Solution
Step 1
NOTE: Refresh your page if you can't see any equations.
.
the first-year salary is $47000 so take a=47000
and it is increasing at a rate of 7% per year
so the common ratio is r=1.07
now we want to find the total amount of money earned over 11 years
so the number of terms is n=11
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 7 images
Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,