Question

Average national teachers salaries can be modeled using the equation y=9.25(1.06)^n , where y is the salary in thousands of dollars and n is the number of years since 1970
A) graph the function
B) using this model, what can a teacher expect to have as a salary in year 2020?
Please help !

Answer 1

$y=9.25(1.06)^{n}$
Plug in $n$ to find $y$.
$n$ would be $50$ because $2020-1970=50$.

Use order of operations to solve.
$y=9.25(1.06)^{50} \\ y=9.25(18.42) \\ y=170.39$

Since $y$ is the salary in thousands, multiply $170.39$ by $1000$.
$170.39*1000=17039$

A teacher can expect to have about $17,039 as a salary in the year 2020.