Answer: $53,330
Step-by-step explanation:
This is an exponential function so to find the salary in 3 years, you need to use a future value formula such as :
= Amount * ( 1 + rate) ^ number of years
Amount = $51,000
Rate = 1.5%
Number of years = 3 years
Salary = 51,000 * ( 1 + 1.5%)³
= 53,329.59
= $53,330
