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5 October, 09:18

If your starting salary is 35,000 and you receive a 6% increase at the end of every year, what is the total amount, in dollars, you will earn over the first 16 years that you work?

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  1. 5 October, 10:52
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    A=p (1+r) ^t

    A the amount after 16 years

    P current amount 35000

    R rate 0.06

    T time 16 years

    A=35,000 * (1+0.06) ^ (16)

    A=88,912
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