Answer:
(a) $ 30000 + 1500 t
(b) $ 52500
Step-by-step explanation:
Initial profit = # 30,000
Profit increases every year by 5 %.
(a) Let the profit after t year is
P = $ 30,000 + 5% of 30,000 t = $ 30000 + $ 1500 t
(b) t = 15 years
P = $ 30000 + $ 1500 x 15 = $ 52500
