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Look at the student solution shown. What was done correctly? What was done incorrectly? Explain and identify the correct answer.

Carlos accepts a new job with a starting salary of $46,000. He will earn a 5% increase after each year. What will be his salary after 3 years?

$46,000 • 1.05 • 3 = $144,900 is Carlos’ salary after 3 years.

Sagot :

Answer:

What he did right was doing the first part correctly, wher it;s 46000x1.05, which is 48300. But then the student thought that every year, Carlos' salary will increase by 48300, and after 3 years it got to 144900, which is nuts. The real thing is to do 46000 x 1.15, because on the 3rd year, your salary will be 115% of your salary, if that makes sense, you do 5x3 = 15, then you add 15% to 100 which is 115 % =1.15. then you do 46000x1.15= 55545$

hope that answers your question

comment if your confused about something.

Step-by-step explanation:

Salary after 3 years of increment by 5% annual rate is given as $53,250.

Carlos accepts a new job with a starting salary of $46,000. He will earn a 5% increase after each year. What will be his salary after 3 years.

What is interest explain?

It is defined as the fee you pay to borrow money or the fee you levy to lend money. Interest is considerable and frequently recalled as an annual percentage of the amount of a loan. This percentage is known as the interest rate on the loan.


Incorrect solution,
$46,000 • 1.05 • 3 = $144,900 is Carlos’ salary after 3 years.

Correct solution,
Principal amount = $46,000
rate of increase in salary each year = 5%
After t = 3 years what will be the salary = ?

following identity is used to calculate the increments in principal amount.
[tex]Amount = principal(1+r)^t[/tex]

[tex]Amount = 46000(1+0.05)^3\\Amount = 46000(1.05)^3\\[/tex]
Amount = 456000 * 1.16
Amount = 53,250

Thus, salary after 3 years of increment is given as $53,250.

Learn more about your interest here:
brainly.com/question/1040694

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