Find Salary Per Year

[harpazo]

You accept a new job with a starting salary of $51,000. You receive a 3% raise at the start of your second year, a 5.6% raise at the start of your third year, and an 11.1%raise at the start of your fourth year. (Round your answers to two decimal places.)
Find your salary for years 2 to 4.


Solution

Second Year

51,000 x 0.03 = 1530

51,000 + 1530 = 52,530

Third Year

52,530 x 0.056 = 2,941.68

52,530 + 2,941.68 = 55,471.60

Fourth Year

55,471.68 x 0.111 = 6,157.35648

55,461.68 + 6,157.35648 =
61,619.04

Correct?

 

[Dr.Peterson]

You copied two numbers incorrectly, but I think you meant the right numbers: 55,471.60 where you later wrote 55,471.68 correctly, and 55,461.68 where you previously wrote 55,471.68. Your final answer is wrong because you used that number.

I checked the final answer using a valuable shortcut: 51,000*1.03*1.056*1.111 = 61629.0364

 

[harpazo]

You copied two numbers incorrectly, but I think you meant the right numbers: 55,471.60 where you later wrote 55,471.68 correctly, and 55,461.68 where you previously wrote 55,471.68. Your final answer is wrong because you used that number.

I checked the final answer using a valuable shortcut: 51,000*1.03*1.056*1.111 = 61629.0364

I made a few typo. Otherwise, I understand what is asked here and what to do. Can you check my set up for the thread Find Amount of Water posted yesterday?