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Finance

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During a job interview, Pam Thomson is offered a salary of $28,000. The Company gives annual raises of 6 percent. What would be Pam's salary during her fifth year on the job?

  • Finance -

    $28,000 * 1.06^4 = $35,349.35

    first year 28 k
    second year 28 k * 1.06^1
    third year 28 k * 1.06^2 etc

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