Question: Emma earns a $39,000 salary in the first year of her career. Each year, she gets a 5% raise.
How much does Emma earn in total in the first 11 years of her career?
Round your final answer to the nearest thousand.
1. **State the problem:**
Emma starts with a salary of $39000$ in the first year and receives a 5% raise each subsequent year. We want to find the total amount she earns over the first 11 years.
2. **Identify the formula:**
This is a geometric series problem where the first term $a = 39000$ and the common ratio $r = 1 + 0.05 = 1.05$.
The total earnings over $n$ years is given by the sum of a geometric series:
$$S_n = a \frac{1-r^n}{1-r}$$
3. **Apply the formula:**
Here, $n = 11$, $a = 39000$, and $r = 1.05$.
Calculate $r^n$:
$$1.05^{11} \approx 1.71034$$
Calculate the sum:
$$S_{11} = 39000 \times \frac{1 - 1.71034}{1 - 1.05} = 39000 \times \frac{1 - 1.71034}{-0.05}$$
4. **Simplify the fraction:**
$$\frac{1 - 1.71034}{-0.05} = \frac{-0.71034}{-0.05} = \cancel{\frac{-0.71034}{-0.05}} = 14.2068$$
5. **Calculate total earnings:**
$$S_{11} = 39000 \times 14.2068 = 554,665.2$$
6. **Round the answer:**
Rounded to the nearest thousand, Emma earns approximately $555000$ in total over the first 11 years.
**Final answer:**
$$\boxed{555000}$$