Hi! I'm currently going through my math book in panic trying to soak up information before I go off to college. I want my brain back. So! I had trouble with this simple question.
Each year a a sales-person is paid a bonus of 2000 which is banked into the same account which earns a fixed rate of interest of 6% p.a. with interest being paid annually. The amount at the end of year in the account is calculated as follows:
A2=A1* 1.06+2000 etc.
My question would then be what the equation of the total amount of money the sales-man has in his bank account for the given year. The year then being the 'x' value here!
I hope the question's clear enough, I'm a little out of my depth. I hope somebody out there can help me. Thanks for your time!