Question

1. (5 points) Suppose over the past 6 years, you have earn annual raises.
6
Three times your raise was 4%, twice you received only a 2% raise and one
you received a 10% raise. If your current salary is $85,000, what was your
salary before all of those raises?

Answer 1

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Answer:

  $66,027.66

Step-by-step explanation:

The multiplier for the salary with each raise is (1 + raise). That means the original salary is multiplied by ...

  (1.04^3)×(1.02^2)×(1.10) = 1.28733935616 = k

Your original salary (O) satisfies ...

  O×k = $85,000

  O = $85,000/k ≈ $66,027.66 . . . original salary