Suppose that you have been hired at annual salary of $24000 and expert to receive annual increases of 5%. What will your salary be when you being your ninth year?
1 Answer
Oct 14, 2017
$37231.88
Explanation:
Here money will be compounded yearly. Initial salary (P) = 24,000,
annual increase (R) = 5% and No. of years (N) = 9.
So, Amount will be