Question

The equation s=p(1+r)^t can be used to model a person’s future income. S = future salary, p = current salary, r = rate of increase, and t = time in years. Susan’s salary increases by 3% each year. If she starts at $43,000 per year, what will her salary be in 5 years?

Answer 1

@Paul2R

Answer 2

thanks..so this is basically a plug and chug

Answer 3

what is r in the problem?

Answer 4

The r is 1 + 0.03

Answer 5

so what are you saying?

Answer 6

yup..that is becuase the salary is increasing..so it would be current salary plus the extra 3%

Answer 7

@coolsday & @Paul2R

Answer 8

now what is P?

Answer 9

idk @Paul2R

Answer 10

what salary are you starting at will be P. r is the rate of increase, and t is the amount in years.

Answer 11

wht is the girls current salary?

Answer 12

ohhh okay hold on lol @Paul2R

Answer 13

$46,750? @Paul2R

Answer 14

is that right @coolsday

Answer 15

P = 43,000 r = 1.03 t = 5

You want to find s

s = P(1+r)^t
s=43000(1.03)^5

can you solve for x?

Answer 16

you are close, but that is not right

Answer 17

49,850? @coolsday

Answer 18

yes

Answer 19

thank youuuu! @coolsday

Answer 20

np