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Part B If DeShawn continues his employment at the same rate of increase in yearly salary, for which year will the sum of his salaries first exceed $1,000,000? Give your answer to the nearest integer. Enter your answer in the box.

Part B If DeShawn continues his employment at the same rate of increase in yearly salary, for which year will the sum of his salaries first exceed $1,000,000? Give your answer to the nearest integer. Enter your answer in the box.

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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how do you solve part B

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Part B If DeShawn continues his employment at the same rate of increase in yearly salary, for which year will the sum of his salaries first exceed $1,000,000? Give your answer to the nearest integer. Enter your answer in the box. Mathematics E I Use the information provided to answer Part A and Part B for question 9. DeShawn is in his fifth year of employment as a patrol officer for the Metro Police. His salary for his first year of employment was $47,000. Each year after the first, his salary increased by 4% of his salary the previous year. 9. Part A What is the sum of DeShawn's salaries for his first five years of service? A. $101,983 B. $188,000 C. $219,932 D. $254,567 Unit 1
Transcribed Image Text:Part B If DeShawn continues his employment at the same rate of increase in yearly salary, for which year will the sum of his salaries first exceed $1,000,000? Give your answer to the nearest integer. Enter your answer in the box. Mathematics E I Use the information provided to answer Part A and Part B for question 9. DeShawn is in his fifth year of employment as a patrol officer for the Metro Police. His salary for his first year of employment was $47,000. Each year after the first, his salary increased by 4% of his salary the previous year. 9. Part A What is the sum of DeShawn's salaries for his first five years of service? A. $101,983 B. $188,000 C. $219,932 D. $254,567 Unit 1
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