Question

Use the formula s - 25,000(1.032) to calculate your salary after 6 years. Round your answer to the nearest dollar

Answer 1

Answer:

A) $30201

Step-by-step explanation:

The formula S=25000(1.032)^t describes a 3.2% growth in salary for every year where the principal value is $25000 and the time "t" is the amount of years. This is known as exponential growth.

Since t=6:

S=25000(1.032)^6

S=30200.78

Rounded to the nearest dollar is $30201. So A is the correct choice.