Question

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 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? A. $36,750 B. $44,670 C. $43,750 D. $50,000

Answer 1

I cannot see the file !!

Answer 2

Answer:

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?

S = 35 000 (1 + 0.05)^5

So

S = $44,669.85 = $44,670

So B :)

I hope this helps!!