cierra is earning a yearly salary of $37,400 as a marketing agent. due to experience and continuing…

cierra is earning a yearly salary of $37,400 as a marketing agent. due to experience and continuing education, she receives a 4.5% increase each year. this can be represented with the equation $y = 37400(1 + 0.045)^x$ and the graph shown below. about how much will cierras salary be after 10 years? you can use the graph or the equation and your calculator to estimate your answer.

cierra is earning a yearly salary of $37,400 as a marketing agent. due to experience and continuing education, she receives a 4.5% increase each year. this can be represented with the equation $y = 37400(1 + 0.045)^x$ and the graph shown below. about how much will cierras salary be after 10 years? you can use the graph or the equation and your calculator to estimate your answer.

Answer

Explanation:

Step1: Identify the values in the formula

The formula for Sierra's salary is $y = 37400(1 + 0.045)^{x}$, where $x$ is the number of years. Here $x = 10$.

Step2: Substitute the value of $x$

Substitute $x = 10$ into the formula: $y=37400\times(1 + 0.045)^{10}$. First, calculate $(1 + 0.045)^{10}$. Using a calculator, $(1.045)^{10}\approx1.552969$.

Step3: Calculate the salary

Then, multiply by the initial - salary: $y = 37400\times1.552969\approx58080$.

Answer:

About $$58080$