So I was working on the review for the chapter and I need help.
33.) A job pays $32,000 for the 1st year with an annual increase of 6% per year beginning in the 2nd year. What is the salary in the 6th year?
Hello, yoman360!
After the first year, the salary increases by 6% annually.33) A job pays $32,000 for the 1st year with an annual increase of 6% per year
beginning in the 2nd year. What is the salary in the 6th year?
Each year, the salary is 106% of the previous year's salary.
. . $\displaystyle \begin{array}{cc}\text{Year} & \text{Salary} \\ \hline
1 & 32,000 \\
2 & 32,000(1.06) \\
3 & 32,000(1.06^2) \\
4 & 32,000(1.06^3) \\
\vdots & \vdots
\end{array}$
Get the idea?