Dustin's starting salary is $40,000. His salary is expected to increase by 4% each year. To the nearest dollar, what is Dustin's expected salary after 5 years?
1st year: 40000+(40000x4%)=41600
2nd year: 41600+(41600x4%)=43264
3rd year: 43264+(43264x4%)=44994.56
4th year: 44994.56+(44994.56x4%)=46794.342
5th year: 46794.342+(46794.342x4%)=48666.11568
Answer:
C, $48,666
Step-by-step explanation:
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