A worker was paid a salary of $8,400 in 1982. Each year, a salary increase of 5% of the previous year's salary was awarded. How much did the worker earn from the beginning of 1982 through the end of 2000? (Round your answer to the nearest cent.)
The sum, Sn ......is given by
Sn = 8400 [ (1 - (1.05)^19) / (1 - 1.05) ] = about $ 256,527.63
[19 = 2000 - 1982 + 1]
