The equation 2003-02-05-00-00_files/i0070000.jpg can be used to model a person’s future income. S = future salary, p = current s
alary, r = rate of increase(% in decimal form), and t = time in years. Bob’s salary increases by 5% each year. If he starts at $35,000 per year, what will his salary be in 5 years? A. $36,750 B. $44,670 C. $43,750 D. $50,000
The equation S=p(l+r)^t can be used to model a person’s future income. S = future salary, p = current salary, r = rate of increase(% in decimal form), and t = time in years. Bob’s salary increases by 5% each year. If he starts at $35,000 per year, what will his salary be in 5 years?
Step-by-step explanation:
So we want to find S
We know that P=35,000
We know that r = 0.05 (5% in decimals)
We know that t = 5
I don't know what I is so I'm going to assume it's 1?
