Solve the Problem. -A Job Pays a Salary of 27,000 the First Year

question 163

Multiple Choice

Solve the problem.
-A job pays a salary of 27,000 the first year. During the next 9 years, the salary increases by 5% each year. What is the salary for the 10th year? What is the total salary over the 10-year period? (Round to the nearest cent.)

• A)$41,885.86; $339,603.10
• B)$43,980.15; $383,583.25
• C)$41,885.86; $297,717.24
• D)$43,980.15; $297,737.24

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Definitions:

Eutectic Alloy

A mixture of two or more metals that solidifies at a single temperature, the lowest at which the mixture can remain fully solid, forming a homogeneous crystal structure.

Heater Barrel Element

A heating component used in machines such as injection molding machines, responsible for heating the barrel in which plastic is melted.

Liquid State

A phase of matter characterized by a definite volume but no definite shape, assuming the shape of its container.

Dropout Current

The minimum current at which a relay, contactor, or coil will de-energize, allowing its contacts to return to their default state.