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Question 7/10
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7
Your starting salary at a new company is $34,000 and it increase by 2.5% each year
Part A: Write an exponential function that represents this scenario. Format your answer like: A(t) =a (1 + r)

Answer 1

Answer: $38467.88

Explanation:V is the salary is 5 years

P is the when you first joined

R is the percentage increase per year

N is the number of years

Therefore,

V=34000

×(1+2.5%)5 =34000×1.0255

= $38467.88 (2dp)