A professor makes $78,000 in his first year at college and gets a 9% raise each year. 1. Find a formula for his salary an in the nth year 2. List his salaries for his first 6 years teaching at the college

A professor makes $78,000 in his first year at college and gets a 9% raise each year. 1. Find a formula for his salary an in the nth year 2. List his salaries for his first 6 years teaching at the college

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter7: Percents

Section: Chapter Questions

Problem 4CR

See similar textbooks

Related questions

Q: Calculate the amount of money you'll have at the end of the indicated time period. You invest…

A: We need to find the amount of money that we will have at the end of 30 years, given that : Principle…

Q: Kareem deposits $3000 into an account that pays simple interest at an annual rate of 4%. He does not…

Q: You deposit $1200 in an account with an annual interest rate of 3%. How much simple interest is…

A: Given, Principal = p = $ 1200 Interest rate = r = 3 % Time period = t = 5 years We have to find…

Q: 4. Mike wants to invest money every month for 30 years. He would like to have $500000 at the end of…

Q: A loan of $100,000 is required to buy your new home. The bank offers a choice of a 30-year loan at…

Q: A person deposits 100$ at the end of first, second and third year, if the rate of interest is 15%…

A: This is the case of compound interest

Q: Melanie invests $1,000 at 15% simple interest for 1 year. How much is in the account at the end of…

Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9%6 interest. a)…

A: This question is related to interest.

Q: 5. You deposited P65 200 in the bank that earns P15 850 at the end of 5 years, at what interest rate…

Q: 6. If you want to have $50,000 for your child’s education in 18 years, how much do you have to put…

A: Given Future value of annuity =50000 Rate =7℅=0.07 Time period=18

Q: You invest $6,229 in an account paying simple interest at a rate of 2.5% per year. If you make no…

Q: Katy invests $4,000 into an account at an annual rate of 0.8% simple interest for 24 months.…

Q: Offered a job with a low starting salary but with a $2,000 raise for each of the next 7 years . How…

A: Given Offered a job with a low starting salary but with a $2,000 raise for each of the next 7 years…

Q: A man gets a job with a salary of 36200 dollars a year. He is promised a 2550 dollars raise each…

A: Given:- A man gets a job with a salary of 36200 dollars a year. He is promised a 2550 dollars raise…

Q: 8. Rachael turned age 62 in 2016. a. Compute her Social Security full retirement benefit if her…

Q: You deposit $200 monthly in a saving plan with APR of 6% for 10 years. How much would your…

A: The APR stands for annual percentage rate which represents the rate at which the amount will…

Q: Mario invested $6,000 in an account that pays 5% annual interest compounded annually. Using the…

A: Mario invested $6,000 in an account that pays 5% annual interest compounded annuallywe find…

Q: A man gets a job with a salary of 38700 dollars a year. He is promised a 2910 dollars raise each…

Q: Find the total amount in an account to the nearest cent after 3 years if the interest is compunded…

A: P=$2800 r=6.25% r=6.25/100=0.0625 t=3 compounded annually, n=1

Q: Suppose you want to have $500,000 for retirement in 35 years. Your account earns 7% interest. a) How…

Q: You invest $1,000 in an account that pays 7% simple interest. What will the balance be after 8…

Q: A man gets a job with a salary of $30,000 a year. He is promised a $2300 raise each subsequent…

A: Given that A man gets a job with a salary of $30,000 a year. He is promised a $2300 raise each…

Q: Q5 Giving that the initial capital is $10,000, annual interest rate is 4%, answer the following…

A: Interest, in finance and economics, is payment from a borrower or deposit-taking financial…

Q: You want to save $4000 to go to Europe for a month next year. Your account pays 5% interest, and you…

A: Given Information : You want to save $4000 to go to Europe for a month next year. Your account pays…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

Q: You deposit $110 monthly in a saving plan with APR of 6% for 15 years. How much would your…

Q: Determine the total amount and the interest paid on $3000 with interest compounded semiannually for…

Q: Your colleague promises to pay you interest of 1.5%. You start by giving your colleague $400 to…

A: Rate of interest , R = 1.5 % Time, T = 1 Year Principal amount , P = 400$ Interest , I = P×R×T / 100…

Q: John deposited $3700 in an account that is compounded monthly for two years. He ends up with $4072.…

A: Given: John deposited $3700 in an account that is compounded monthly for two years. He ends upwith…

Q: then how much is in the account immediately after his deposit on November 1, 2027?

Q: Professor Beatrice Kuhl invests $7,500 at 4.5% interest. How much money will she have at the end of…

A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

Q: Five: $600 deposited yearly in an annuity account that pays 12% per year and compounds once yearly.…

A: Formula Amount after n years =>A=P(1+r/100) n

Q: You purchase a new car for $19,500. If you borrow $19,500 for 5 years with an interest rate of 5%…

A: Given P=$19500 r=5%=0.05 t=5 years

Q: 5. Arthur invests his inheritance of $24,000 in two different accounts which pay 6% and 5% annual…

A: We will find the investment.

Q: Maxwell has deposited $125 into a savings account each month this year. He plans on depositing $15…

A: Observe that, In first year, Maxwell deposited each month $125 and he deposited more each month is…

Q: Five: $600 deposited yearly in an annuity account that pays 12% per year and compounds once yearly…

Q: Calculate the amount of money you'll have at the end of the indicated time period. You invest…

A: Given query is to find the amount after 8 years.

Q: Calculate the amount of money you'll have at the end of the indicated time period. You invest…

Q: Juliana invested $5,100 at 6.50% p.a. simple interest. How many days will it take for her investment…

Q: Suppose you want to have $300,000 for retirement in 35 years. Your account earns 7% interest. a) How…

A: A) calculating monthly deposit, Using TVM calculation PMT=[PV=0, FV=300,000, N=420, I= 0.07/12]…

Q: An amount of P12, 500 is invested at 3.25% simple interest for 3 years. Complete the table below.

Q: Michelle deposits P1o,000 in an account that eams 8% simple interest. How long will it take for the…

Q: Caleb invests $10,000 in a savings ccount that pays 3% simple interest w many years will it take the…

Q: your goal is to create a college fund for your child. suppose you find a fund that offers an APR of…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: You want to purchase a new car in 6 years and expect the car to cost $82,000. Your bank offers a…

A: Given, Cost of car = $82,000 Time (t) = 6 years Rate = 5.5% = 0.055

Q: Suppose you want to have $700000 retirement in 20 years. Your account earns 10% interest. A) How…

Q: Q6 A man gets a job with a salary of $33,000 a year . He is promised a $2,350 raise each subsequent…

Q: 5. Kelsey invested $3500 at 8.6% simple interest for 188 days. How much does Kelsey have now after…

Q: A job pays a salary of $24,000 the first year. During the next 19 years, the salary increases by 5%…

A: Given The salary in the first year for the job is $24,000. Then, there is an increase of 5% every…

Q: If P3000 is deposited in a savings account paying 3% a year. How much will you have in the account…

Question

A professor makes $78,000 in his first year at college and gets a 9% raise each year.

1. Find a formula for his salary a_n in the nth year

2. List his salaries for his first 6 years teaching at the college

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much interest will Nathaly earn in five years?
Car insurance Justin’s car insurance has a $750 deductible per incident. This means that he pays $750 and his insurance company will pay all costs beyond $750. If Justin files a claim for $2,100. how much will he pay? how much will his insurance company pay?
Home insurance Armando’s home insurance has a $2,500 deductible per incident. This means that he pays $2,500 and the insurance company will pay all costs beyond $2,500. If Armando files a claim for $19,400. (a) how much will he pay? (b) how much will the insurance company pay?
You accept a job with an annual income of $58,400 . This includes your salary and a $1200 year-end bonus. You are paid weekly. What is your salary per pay period?