Problem $4-53$ Growing Annuities

Mateo has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $$58,000.$ He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $$10,000$ bonus for joining the company. His salary will grow at $3\mathrm{.}8$ percent each year. Each year