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

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    2021-08-14T15:11:25+00:00

    Answer:

    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

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