Upon Taking His First Job Out of College,your Dad Earned

question 81

Multiple Choice

Upon taking his first job out of college,your Dad earned an annual salary of $38,000 and set a goal to earn $100,000 per year.If his salary increased at an average annual rate of 12%,how long did it take to reach his goal?

• A)At that rate of growth,your Dad still has not earned $100,000 in a single year.
• B)2.63 years
• C)26.31 years
• D)8.54 years