Question

Your new job guarantees you an eight percent raise for each year with the company. If your initial salary is $42,200, write an equation to model your salary after t years

Answer 1

$42,000
× 0.08
$3,360
+42,000
= $45,360

Answer 2

initial salary is $42,200

eight percent raise for each year = 1.08

salary after t years

equation :

Y(t) = $42,200 x (1.08)^t