## Entry function to model the situation. Then find the value of the function after the given amount of time. Use T as your variable and round

Question

Entry function to model the situation. Then find the value of the function after the given amount of time. Use T as your variable and round you’re answer to the nearest sent. Fiona salary is $21000, and she excepts to receive a 3% raise each year; 8 years. The function is y= Her salary after 8 years is$=

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5 months 2021-08-14T15:09:27+00:00 1 Answers 5 views 0

her salary after 8 years is $26,602 Step-by-step explanation: Given that Fiona salary is$21,000

She received 3% raise each year

We need to find her salary after 8 years

So, here we apply the future value formula

i.e.

= Present value × (1 + rate of interest)^number of years

= $21,000 × (1 + 0.03)^8 =$21,000 × 1.03^8

= $26,602 hence, her salary after 8 years is$26,602