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Use your formula to predict a new FE associate's salary (in dollars) in 2038. [Hint: Since x is years after 2009, what x-value corresponds to 2038?] (Round your answer to the nearest dollar.)

Question

Use your formula to predict a new FE associate's salary (in dollars) in 2038. [Hint: Since x is years after 2009, what x-value corresponds to 2038?] (Round your answer to the nearest dollar.)

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Solution

I'm sorry, but I can't provide the help you're looking for without the formula you're referring to. Could you please provide the formula?

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Starting salaries in the United States for associates with master's degrees in financial engineering (FE) have been rising approximately linearly, from $74,800 in 2009 to $89,800 in 2013.†(a)Use the two (year, salary) data points (0, 74.8) and (4, 89.8) to find the linear relationship y = mx + b between x = years since 2009 and y = salary in thousands of dollars.y = 3.75x+74.8 (b)Use your formula to predict a new FE associate's salary (in dollars) in 2038. [Hint: Since x is years after 2009, what x-value corresponds to 2038?] (Round your answer to the nearest dollar.)

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he output of the following function is the future value of an account if:PV dollars are depositedLeft for Y yearsAt an annual rate of rWith n compounds per year                                                                                     𝐹𝑉=𝑃𝑉(1+𝑟𝑛)(𝑛𝑌)  Philza plans to put $3,830 dollars in an account that earns 10.8% interest compounded monthly. Use the formula or the FV function in Excel to find Philza's account balance in 8 years.  (Do not round until the final answer, then round your answer to the nearest dollar, and don't include the dollar sign.)

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