Question

You work at a company and start off making $35,000 per year. You receive an annual...

You work at a company and start off making $35,000 per year. You receive an annual increase of 2% every year. What is the total amount you have earned in 15 years? Round your answer to the nearest dollar.

Homework Answers

Answer #1

total amount earned after 15 years is approximately $47,105.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You work at a company and start off making $35,000 per year. You receive an annual...
You work at a company and start off making $35,000 per year. You receive an annual increase of 2% every year. What is the total amount you have earned in 15 years? Round your answer to the nearest dollar
You decide to start a savings account in 2020 and you begin by putting $300 into...
You decide to start a savings account in 2020 and you begin by putting $300 into the account every month. If the APR on the account is 3%, how much money will you have in the account by 2055? Round to the nearest whole dollar. (no commas) Total in Account: $   Of your calculated Total deposit amount, how much money total would you have put into the account by 2055? Round to the nearest whole dollar. (no commas) Total money...
"Company X has been contracting its overhauling work to Company Y for $35,000 per machine per...
"Company X has been contracting its overhauling work to Company Y for $35,000 per machine per year. Company X estimates that by building a $589,000 maintenance facility with a life of 15 years and a salvage value of $52,000 at the end of its life, it could handle its own overhauling at a cost of only $21,000 per machine per year. What is the minimum annual number of machines (as an integer) that Company X must operate to make it...
After graduation, you receive a statement from your bank describing the total amount of your student...
After graduation, you receive a statement from your bank describing the total amount of your student loans and the terms for repayment. Your loans total $30,000 and will be repaid monthly over 8 years at an annual rate of 6%. 1. How much interest will you pay over the last 2 years of the loan? 2. What is your loan balance after 6 years? Round to nearest dollar. Do NOT enter dollar signs. 3. If you make payments of $500...
The median annual earnings for someone with only a High School Degree is about $35,000 per...
The median annual earnings for someone with only a High School Degree is about $35,000 per year, which you estimate to be the equal-series amount you would earn without the engineering degree. Assume you would start work right out of High School and continue to work for 40 years before retirement. Assume your job health insurance and retirement benefits are the same as a job with a college degree. What is the estimated Future Equivalent Value (before tax) from your...
You receive a $13,000 4-year constant payment loan (CPL). The loan's annual interest rate is 15%....
You receive a $13,000 4-year constant payment loan (CPL). The loan's annual interest rate is 15%. What is the principal portion of the total payment in year 4, rounded to the nearest dollar?
Suppose you have just won a lottery. You will receive a total of 27 annual payment,...
Suppose you have just won a lottery. You will receive a total of 27 annual payment, and each payment is $3,371. You will receive the first payment today. If you can earn 6% annual rate of return each year, how much is this lottery worth to you today? (round to the nearest dollar. ) PLEASE INCLUDE EXCEL FORMULA
You receive a 10-year unsubsidized student loan of $18,000 at an annual interest rate of 6.6%....
You receive a 10-year unsubsidized student loan of $18,000 at an annual interest rate of 6.6%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
You receive a 10-year unsubsidized student loan of $30,000 at an annual interest rate of 5.4%....
You receive a 10-year unsubsidized student loan of $30,000 at an annual interest rate of 5.4%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
You receive a 10-year unsubsidized student loan of $31,000 at an annual interest rate of 5.6%....
You receive a 10-year unsubsidized student loan of $31,000 at an annual interest rate of 5.6%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT