Mohamed accepted a new position as an electrician. Mohamed has a starting annual salary of 65,000 with an expected raise of 2.4% per year. If Mohamed stays at this job for 10 years what would be his salary?

Intermediate Algebra
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ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Mohamed accepted a new position as an electrician. Mohamed has a starting annual salary of 65,000 with an expected raise of 2.4% per year. If Mohamed stays at this job for 10 years what would be his salary?
Expert Solution
Step 1

Given

Annual salary(P)= 65000/-

Expected raise(r)= 2.4%

No. of years(t)= 10

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