Question

I WILL GIVE YOU BRAINNIEST!!! 20POINTS!!!Employees at Youlissa's company get a 5% cost-of-living adjustment added to their salary each year. If Janice currently has a salary of $39,000, what will her salary be in 3 years?

What is the initial amount?
And
what was the rate?

Answer 1

Minimum salary = Current salary × (1 + Cost of living increase) = $45,000 × 1.12 ... the salary offered. By her fifth year, she will have received four annual raises.