You accept a new job with a starting salary of $56,000.You receive a 4.9% raise at the start of your second year, a 7.4% raise at the start of your third year, and a 8% raise at the start of your fourth year.Find your salary for the fourth year.
A) $68,138.34
B) $66,854.44
C) $67,881.56
D) $68,651.90
E) $69,422.24

Question

Quizplus · Accepted Answer

The correct answer is A because $56,000 x 1.049 = $58,844.40, $58,844.40 x 1.074 = $63,061.13, and $63,061.13 x 1.08 = $68,138.34.

You Accept a New Job with a Starting Salary of $56,000.You