Justine earned $26,000 during the first year of her job at city hall. After each year she received a 3% raise. Find her total earnings during the first five years on the job. (1 point)
Responses
$138,037.53
$1,004,704.20
$4,020.51
$108,774.30
$138,037.53
Year 1: $26,000
Year 2: $26,780 (= $26,000 * 1.03)
Year 3: $27,596 (= $26,780 * 1.03)
Year 4: $28,450.88 (= $27,596 * 1.03)
Year 5: $29,346.41 (= $28,450.88 * 1.03)
Total earnings = $26,000 + $26,780 + $27,596 + $28,450.88 + $29,346.41 = $138,037.53