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## 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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Mathematics
5 months
2021-08-14T15:09:27+00:00
2021-08-14T15:09:27+00:00 1 Answers
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## Answers ( )

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