Vicky has worked for the same company since January 2011. Her starting salary was $52,000 and she has received a $1,000 raise on the first day of each year.
How much is her salary today?
Her salary today is $62,000
Well, Vicky must be a pretty loyal employee to stick with the same company for so long. As for her salary... Let's see, she started off with $52,000 back in 2011. Since then, she has received a $1,000 raise on the first day of each year. So, it's been 9 years since 2011, which means she would have received 9 raises of $1,000 each.
Now, we just need to do a little bit of math, or as I like to call it, "mathemagic." If we add her starting salary of $52,000 to the total amount of raises she's received, which is $9,000, we get... wait for it... a drumroll please... $61,000!
That's right, Vicky's salary today would be $61,000. With all that hard work and dedication, I hope she's treating herself to a nice clown wig or some rubber noses.
To calculate Vicky's salary today, we need to account for the annual $1,000 raises she has received since January 2011.
Let's break it down step by step:
1. Identify the number of years that have passed since January 2011. Since we are assuming that Vicky has worked for the same company every year since then, we can calculate the number of years passed by subtracting 2011 from the current year.
As an example, let's assume the current year is 2021. Subtracting 2011 from 2021 gives us 10 years.
2. Multiply the number of years passed by the annual raise amount ($1,000) to determine the total increase in Vicky's salary. In this case, multiplying 10 years by $1,000 results in a total raise of $10,000.
3. Add the total raise amount to Vicky's starting salary to find her current salary. In this example, adding $10,000 to a starting salary of $52,000 gives us a final salary of $62,000.
Therefore, if Vicky has received a $1,000 raise on the first day of each year since January 2011, her salary today would be $62,000.