Question

Use the formula s=32, 512(1.10)^t to calculate your salary after 2 years. Round your answer to the nearest dollar.

a.
$32,512
c.
$39,340
b.
$35,763
d.
$43,273

Answer 1

s = $39,340

Step-by-step explanation:

Note: I will use the symbol "n" instead of "t" in the solution.

The given formula is:

s = 32,512 * (1.1)ⁿ where "n" is the number of years.

We want to get the salary after 2 years. This means that we will substitute with n = 2 in the above equation and get the value of s.

This is shown as follows:

s = 32,512 * (1.1)²

s = $39,339.52 which is approximately $39,340

Hope this helps :)