The amount is $300,152.68.
Explanation:
This can be represented as a geometric sequence, with a common ratio of 1.04. This is because she earns 100% of her previous salary plus an extra 4% each year; 104%=104/100 = 1.04.
The explicit form of the sequence would be
25000(1.04)ⁿ⁻¹,
where n is the number of years. We want the sum of the first ten years, so we want
[tex]\Sigma_{n=1}^{10}25000(1.04)^{n-1}[/tex]
Using technology, this comes out to $300,152.68.
