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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 54
Solve the following exercises and word problems by using the compound interest formula.
Gabriel Hopen, a 32-year-old commercial artist, has just signed a contract with an advertising agency. Gabriel's starting salary is $47,800. The agency has agreed to increase his salary by 8.5% annually. How much will Gabriel's salary be after 5 years? Round to the nearest whole dollar.
Gabriel Hopen, a 32-year-old commercial artist, has just signed a contract with an advertising agency. Gabriel's starting salary is $47,800. The agency has agreed to increase his salary by 8.5% annually. How much will Gabriel's salary be after 5 years? Round to the nearest whole dollar.
Explanation
Verified
Verified
Given,
G H's starting salary is $47,800....
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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