Question

An employee earns $56,000 in the first year with a company. Every year, the annual salary increases by $2,500. How much is earned during eight years with the company? $588,000 $518,000 $468,000 $450,500

Answer 1

$518,000

Explanation

An employee earns $56,000 in the first year.

Given that every year, the annual salary increases by $2,500, then in the second year the employee will earn $56,000 + $2,500, in the third year, the employee will earn $56,000 + 2x$2,500, and so on.