Ask Question
24 February, 03:07

The equation S = p (1+r) ^2 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?

+2
Answers (1)
  1. 24 February, 03:09
    0
    S = p (1 + r) ^t

    S = 35,000 (1 +.05) ^5

    S = 35,000 (1.05^5)

    S = 44669.85 rounds to 44,670
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The equation S = p (1+r) ^2 can be used to model a person's future income. S = future salary, p = current salary, r = rate of increase (% ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers