Chapter 8.4, Problem 47HP

To determine

The three raises salary if the starting salary is $\$12,000$ .

Answer to Problem 47HP

  $B$ .

Explanation of Solution

Given information:

Clara received a $10\%$ raise each year for $3$ consecutive years. What was her salary after the three raises if her starting salary was $\$12,000$ per year?

  $\begin{array}{l}\text{A \$14,520 B \$15,972 }\\ \text{C \$16,248 D \$16,410}\end{array}$

Calculation:

Let $x$ is the number of years

Let $y$ is the final salary

  $\begin{array}{l}y=12000\cdot 1\cdot 1^x\\ y=12000\cdot 1\cdot 1^3\text{ {plug in }x=3\text{}}\\ y=15972\end{array}$

Thus, the answer is option $B$ .