Question

The average annual salary of the employees of a company in the year 2005 was sixty-seven thousand dollars. It increased to $74,000. Let f(x) represent the average annual salary, in thousand dollars, after x years since 2005. Which of the following is correct?

O f(x) = 67(1.104)x

Answer 1

The correct equation that represents the average annual salary after x years since 2005 is f(x) = 7x + 67.

Step-by-step explanation:

The average annual salary of the employees of a company increased from $67,000 in 2005 to $74,000. We can represent this situation using a linear function. Let f(x) represent the average annual salary, in thousand dollars, after x years since 2005. To find the equation of the function, we need to determine the slope and the y-intercept.

The slope is given by the change in y divided by the change in x. The change in y is $74,000 - $67,000 = $7,000, and the change in x is 1 year. Therefore, the slope is $7,000/1 = $7,000. The y-intercept is the initial average salary, which is $67,000.

So, the equation of the function is f(x) = 7x + 67.

Therefore, the correct equation that represents the average annual salary is f(x) = 7x + 67.