Acollege graduate expects to earn a salary of $55,000 during the first year after graduation and receive a 4% raise every year after that. what is the total income he will have received after ten years? a. $660,335.89 b. $582,053.74 c. $572,000.00 d. $741,749.33

Looks like your answers are incorrect. None of the answers are correct.

Lets examine:

In year 1, he or she earns 55,000 = 55,000 * (1.04)^0

In year 2, he or she earns

55,000*1.04 =

(55,000 * .04) + 55,000 =

55,000(1.04)^1

In year 3, he or she earns 55,000*(1.04)^2

In year 4, he or she earns 55,000*(1.04)^3

This continues to 55,000*(1.04)^9 = 78282.149 = 78282.15

Your answer should be 78,282.149 or or 78,282.14 or 78,282.15

b). 4320 have a nice day