Question

An employees initial annual salary is $50,000 per year and the company gives $1,000 raises each year. The annual salary needed to live in the city was $45,000 when he started his job but is increasing 5% each year.

Create an equation that models the annual salary in a given year.
Create an equation that models the annual salary needed to live in the city in a given year.

Answer 1

S = 50000 + 1000Y

`S= 45000[1+(5)/(100) ]^(Y)`

Explanation:

The initial annual salary of an employee is $50000 per year and the company gives $1000 raises each year.

So, the equation that models the annual salary is given by

S = 50000 + 1000Y

Where S is the yearly salary and Y is the number of years.

Again, the annual salary needed to live in the city is $45000 when one starts his job and is increasing 5% each year.

So, the equation that models the annual salary is given by

`S= 45000[1+(5)/(100) ]^(Y)`

Where S is the annual salary and Y is the number of years.

(Answer)