Question

If Julio earns $31617 for the first year at his job, and he receives a 7% raise each year, how

much will jullo have earned after 4 years in his position? Round the answer to the nearest

dollar.

A) $37617

B $38182

C) $39875

D) $140378

E) $139378

Answer 1

$31,617(1 + 1.07 + 1.07^2 + 1.07^3) =

$140,378

D is the correct answer.