Ms. Acosta received a job as a teacher with a starting salary of $34,000. According to her contact, she will receive a 1.5% increase in her salary every year. How much will Ms. Acosta earn in 7 years
The total amount that Ms. Acosta will earn in 7 years will be given by: A=P(1+r/100)^n where: P=principles r=rate n=time From the information given: P=$34000, r=1.5%, n=7 thus A=34000(1+1.5/100)67 A=$37,734.73
