Question

Suppose the function y=25,000(1.06)^(x) models the annual starting salary for a small busines x years afer 2000 Find the starting salary in 2002

Answer 1

The starting salary in 2002 is $28,090.

Step-by-step explanation:

Function modeling involves using mathematical functions to represent and describe real-world phenomena. In various fields such as physics, economics, biology, engineering, and more, mathematical models are constructed using functions to represent relationships between variables and to make predictions or analyze systems.

The function y=25,000(1.06)^(x) models the annual starting salary for a small business x years after 2000. To find the starting salary in 2002, we need to substitute x=2 into the equation and solve.

Plug in x=2:

y=25,000(1.06)^2

y=25,000(1.1236)

y=28,090

So, the starting salary in 2002 is $28,090.