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Solve the Problem. -A Job Pays a Salary of 31,000 the First Year

Question 22

Multiple Choice

Solve the problem.
-A job pays a salary of 31,000 the first year. During the next 7 years, the salary increases by 6% each year. What is the salary for the 8th year? What is the total salary over the 8-year period? (Round to the nearest cent.)


A) $49,409.29; $356,230.8
B) $46,612.54; $260,208.97
C) $49,409.29; $260,225.63
D) $46,612.54; $306,821.51

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