Question

Use the formula S = 25,000 (1.032) Superscript t to calculate your salary after 6 years. Round your answer to the nearest dollar.

a) $28,624
b) $28,456
c) $26,378
d) $27,912

Answer 1

To calculate the salary after 6 years, use the formula S = 25,000 (1.032) t and follow the steps provided.

Step-by-step explanation:

To calculate your salary after 6 years using the formula S = 25,000 (1.032) t, where t is the number of years, follow these steps:

1. Plug in the value of t, which is 6, into the formula: S = 25,000 (1.032)6
2. Calculate the value inside the parentheses: 1.0326 = 1.230426464
3. Multiply the result by 25,000: S = 25,000 x 1.230426464 = 30,761.66
4. Round the answer to the nearest dollar: $30,762

So, your salary after 6 years would be approximately $30,762.