Solve the problem.
-A job pays a salary of 31,000 the first year. During the next 7 years, the salary increases by 6% each year. What is the salary for the 8th year? What is the total salary over the 8-year period? (Round to the nearest cent.)
A) $49,409.29; $356,230.8
B) $46,612.54; $260,208.97
C) $49,409.29; $260,225.63
D) $46,612.54; $306,821.51

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-A job pays a salary of 31,000 the first year. During the next 7 years, the salary increases by 6% each year. What is the salary for the 8th year? What is the total salary over the 8-year period? (Round to the nearest cent.)
A) $49,409.29; $356,230.8
B) $46,612.54; $260,208.97
C) $49,409.29; $260,225.63
D) $46,612.54; $306,821.51

Solve the Problem. -A Job Pays a Salary of 31,000 the First Year