Ask Question
14 March, 08:18

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. 14 March, 10:52
    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?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers