agary18
contestada

If you earn $3500 per month and you expect your earnings to increase by 2.3% per year, how much do you think you will be making in 10 years? (Express your answer rounded correctly to the nearest cent!)

Respuesta :

[tex]\bf \qquad \textit{Amount for Exponential Growth}\\\\ A=I(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ I=\textit{initial amount}\to &3500\\ r=rate\to 2.3\%\to \frac{2.3}{100}\to &0.023\\ t=\textit{elapsed time}\to &10\\ \end{cases} \\\\\\ A=3500(1+0.023)^{10}[/tex]