Emma takes a job with a starting salary of $42,000. Her salary increases by 4% at the beginning of each year. What will be Emma's salary, to the nearest thousand dollars, at the beginning of year 10?
We can use geometric sequences to calculate this.
In a geometric series, the formula for
Therefore, we are solving for
Emma's salary would be
John gets a job where the base salary is of
Here is the third solution.
Let Emma's salary at the beginning of
Rate of increase per year
General expression for salary at the beginning of
Number of completed years at the beginning of
Inserting given values we obtain