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McArthur graduated with a master of accountancy degree and has accepted a staff
accounting position with a firm; he will receive a salary of $50,000. The firm
guarantees that Levi will receive a 5 to 9 percent raise each year for the next
five years depending on his performance.
-What will Levi’s salary be in five
years if he gets a 5 percent raise each year?
-What would his salary be in five years
if the annual raise is 9 percent?