Salary increase 2

Each year, Francesca earns a salary 2 percent higher than her previous year's salary. In her first five years at this job, she earned a total of $187,345. What was Francesca's salary in her 1st year at this job?

Correct answer:

a =  36000 USD

Step-by-step explanation:

q=100%+2%=1+1002=1.02 s=187345 USD  a+q a+q2 a+q3 a+q4 a=s  a(1+q+q2+q3+q4)=s  a=1+q+q2+q3+q4s  r=1+q+q2+q3+q4=1+5051+50512+50513+505145.204  a=rs=r187345=5.204187345=36000 USD



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