I Got a Salary Increase of 6% Each Year for 8

question 22

Multiple Choice

I got a salary increase of 6% each year for 8 years.What is the total percentage increase in my salary over the 8-year period? Round your answer to two decimal places if necessary. ​

• A) 47.01%
• B) 60.23%
• C) 59.38%
• D) 48%

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Definitions:

High-Tech Industry

Industries involved in producing advanced technological goods and services, including computing, telecommunications, and biotechnology, among others.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States aimed at reducing trade barriers and facilitating free trade.

Slobodan Milosevic

A Serbian and Yugoslav politician who served as the President of Serbia (1989-1997) and President of the Federal Republic of Yugoslavia (1997-2000), known for his role in the ethnic conflicts and wars that led to the breakup of Yugoslavia.

Josip Broz

Known as Tito, he was a Yugoslav communist revolutionary and political leader who served as Prime Minister (1945–1963) and President (1953–1980) of the Socialist Federal Republic of Yugoslavia.