Justine earned $26,000 during the first year of her job at city hall. After each year she received $26,000 a 3% raise. How do you find her total earnings during the first five years on the job?
So her first year she makes
The next year she gets a raise of
The year after that she makes
And so on and so forth
A trend I notice is that her initial
Now let's solve for when
Justine’s total earnings in 5 years
Formula to be used is similar to simple interest.
P = Earnings per annum, N = No. of years - 1, R = Revision per annum.
N = (No. of years - 1) as during first year will not have any increase
Total earnings during 5 years