Answer :
[tex]y=9.25(1.06)^{n}[/tex]
Plug in [tex]n[/tex] to find [tex]y[/tex].
[tex]n[/tex] would be [tex]50[/tex] because [tex]2020-1970=50[/tex].
Use order of operations to solve.
[tex]y=9.25(1.06)^{50} \\ y=9.25(18.42) \\ y=170.39[/tex]
Since [tex]y[/tex] is the salary in thousands, multiply [tex]170.39[/tex] by [tex]1000[/tex].
[tex]170.39*1000=17039[/tex]
A teacher can expect to have about $17,039 as a salary in the year 2020.
Plug in [tex]n[/tex] to find [tex]y[/tex].
[tex]n[/tex] would be [tex]50[/tex] because [tex]2020-1970=50[/tex].
Use order of operations to solve.
[tex]y=9.25(1.06)^{50} \\ y=9.25(18.42) \\ y=170.39[/tex]
Since [tex]y[/tex] is the salary in thousands, multiply [tex]170.39[/tex] by [tex]1000[/tex].
[tex]170.39*1000=17039[/tex]
A teacher can expect to have about $17,039 as a salary in the year 2020.
