Upon Taking His First Job Out of College,your Dad Earned

Multiple Choice

Upon taking his first job out of college,your Dad earned an annual salary of $38,000 and set a goal to earn $100,000 per year.If his salary increased at an average annual rate of 12%,how long did it take to reach his goal?

A) At that rate of growth,your Dad still has not earned $100,000 in a single year.
B) 2.63 years
C) 26.31 years
D) 8.54 years