Question

Mason's annual income is $42,500. He receives an increase of 3.5% every year

Answer 1

The function that models Mason's yearly income is 42,500(1  + 0.035)^x.

Mason's income after 5 years would be $48,084.85.

What would be Mason's income after 5 years?

The function that models Mason's income is an exponential function that has the form:

p(1 + r)^x

Where:

• r = percentage increase
• x = number of years
• p = present income

42,500(1  + 0.035)^x

Income after 5 years: 42,500(1  + 0.025)^5 = $48,084.85

To learn more about exponential functions, please check: brainly.com/question/26331578

#SPJ1