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4. An employee is paid $3600 for the first month. She is paid an additional 1% at the end of the second month, which means a total of $3636. She continues to receive a 1% raise each month for a full year. What is her total salary at the end of the year? CNN

4. An employee is paid $3600 for the first month. She is paid an additional 1% at the end of the second month, which means a total of $3636. She continues to receive a 1% raise each month for a full year. What is her total salary at the end of the year? CNN

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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4: Application 4. An employee is paid $3600 for the first month. She is paid an additional 1% at the end of the second month, which means a total of $3636. She continues to receive a 1% raise each month for a full year. What is her total salary at the end of the year? CNN
Transcribed Image Text:4: Application 4. An employee is paid $3600 for the first month. She is paid an additional 1% at the end of the second month, which means a total of $3636. She continues to receive a 1% raise each month for a full year. What is her total salary at the end of the year? CNN
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