Looks like your answers are incorrect. None of the answers are correct.
Lets examine:
In year 1, he or she earns 55,000 = 55,000 * (1.04)^0
In year 2, he or she earns
55,000*1.04 =
(55,000 * .04) + 55,000 =
55,000(1.04)^1
In year 3, he or she earns 55,000*(1.04)^2
In year 4, he or she earns 55,000*(1.04)^3
This continues to 55,000*(1.04)^9 = 78282.149 = 78282.15
Your answer should be 78,282.149 or or 78,282.14 or 78,282.15
