Question

A worker earned a 2%

increase in her annual salary for each of 4
years. She plans to continue working in her position for an additional n
years. If she continues to earn a 2%
increase in her annual salary, which statement describes the expression that can be used to calculate the total percent increase in her annual salary from the first year to the last year?

Answer 1

The expression 1.02^(4+n) can be used because 1.02^4 * 1.02^2= 1.02^(4+n) AND this is option C.

Explanation:

For 4 + N years = (1 + 2/100)^(4+N)

= 1.02 ^ (4+N)

Remember, that the number of years is increased by N and interest rate remain the same, and n is years, and which is now 4+ N.