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10 August, 21:31

Belinda will earn $46,000 her first year working as an interior designer with annual raises of 10%. What are her total earning at the end of 7 years?

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  1. 11 August, 00:00
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    For this case we have an equation of the form:

    y = A * (b) ^ t

    Where,

    A: initial gain

    b: growth rate

    t: time

    Substituting values we have:

    y = 46000 * (1.10) ^ t

    For the year 7 we have:

    y = 46000 * (1.10) ^ 7

    y = 89640.9866

    Answer:

    her total earning at the end of 7 years are:

    y = 89640.9866 $
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