Answer
The answer is $\$3795957$.
Work Step by Step
Beginning salary $\$3,000,000$.
Annual increase of $4\%$.
This will form a geometric series.
Common ratio is $1.04$.
The salary on the seventh year is.
$=3,000,000(1.04)^{7-1}$
Simplify.
$=3,000,000(1.04)^{6}$
$=3795957.05549$
Round to the nearest dollar.
$=3795957$.
