Question

Mark just landed a great job as an engineer where he will make $65,000 a year. The company he will work for guarantees a 2% pay increase each year so it's employees' salaries keep up with inflation. At the end of the first year Mark will have made $65,000.

What is the explicit function that represents Mark's salary?

Answer 1

The explicit function that represents Mark's salary is;

`y = \$ 65,000 * (1.02)^x`

Explanation:

The given parameters are;

The amount Mark will make at annually as an engineer = $65,000

The percentage annual pay increase guaranteed by the company = 2%

The explicit function that represents Mark's salary can be presented as follows;

Let Mark's present salary = y

Therefore we have;

y = $65,000× (1 + 0.02)ˣ = $65,000× (1.02)ˣ

Mark salary, y at a particular year, x is y = $65,000× (1.02)ˣ.