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miss Akunina [59]
3 years ago
12

The average annual salary for a teacher nationally is $58,353. This is projected to increase 2% per year for the next 4 years. W

hat will your projected annual salary be in four years?
Mathematics
1 answer:
mario62 [17]3 years ago
4 0

Answer:

\$63,163.16

Step-by-step explanation:

we know that

The equation of a exponential growth function is equal to

y=a(1+r)^x

where

y is the average annual salary

x is the number of years

r is the rate of change

a is the initial value

In this problem we have

a=58,353\\r=2\%=2/100=0.02

substitute

y=58,353(1+0.02)^x

y=58,353(1.02)^x

For x=4 years

y=58,353(1.02)^4=\$63,163.16

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Suppose two radii of a circle determine a 45° angle, and the length of both radii is 64 yards. What is the arc length formed by
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If you have a savings account, contact your bank and find out the interest rate on that account. (If you don’t have your own acc
Nina [5.8K]

Deposit $625 into a money market account with a 5% rate for 1 year would result in more money.

<h3>The interest rate of the bank</h3>

To do this, we make use of 1.50% interest rate

<h3>The exponential growth equation</h3>

Here, we have:

Initial, a= 625

Rate, r = 1.5%

The exponential growth equation is

A(t) = a * (1 + r)^t

So, we have:

A(t) = 625 * (1 + 1.5%)^t

Evaluate

A(t) = 625 * 1.015^t

Hence, the exponential growth equation is A(t) = 625 * 1.015^t

<h3>The value in 25 years</h3>

Here, t = 25.

So, we have:

A(25) = 625 * 1.015^25

Evaluate

A(25) = 906.84

Hence, the value in 25 years is $906.84

<h3>The investment with more money</h3>

<u>#Investment A</u>

a = 625

r = 1.5%

t = 5

So, we have:

A(5) = 625 * 1.015^5

Evaluate

A(5) = 673.3

<u>#Investment B</u>

a = 625

r = 5%

t = 1

So, we have:

A(1) = 625 * 1.5^1

Evaluate

A(1) = 937.5

By comparison, 937.5 is greater than 673.3

Hence, deposit $625 into a money market account with a 5% rate for 1 year would result in more money.

Read more about exponential growth equation at:

brainly.com/question/23729449

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