The salary for the first year job is $2400. During the next 10 years, the salary increases by 4% each year. Determine the total compensation over the 10 year period.
how to work this?
how to work this?
-
Y=ab^t
a - being your starting quantity (2400)
b - being your interest rate (1.04)
t being the time period
This example works out as $3552.59 :)
a - being your starting quantity (2400)
b - being your interest rate (1.04)
t being the time period
This example works out as $3552.59 :)