Answer
a.
$P_{1}=35,700$,
$P_{2}=36,414$,
$P_{3}=37,142$,
$P_{4}=37,885$,
$P_{5}=38,643$
b.
$P_{10}=42,665$.
Work Step by Step
a.
Using our calculator, $P_{n}=35000(1.02)^{n},$
$P_{1}=35,700$,
$P_{2}=36,414$,
$P_{3}=37,142$,
$P_{4}=37,885$,
$P_{5}=38,643$
b.
2014 is 10 years after 2004,
n=10,
$P_{10}=42,665$.
