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

Answer:

65000(1.02)^n.

Step-by-step explanation:

Salary = 65000(1.02)^n   where n is the number of years he has worked for the company.

So after one year he earns $6500* 1.02 and after 2 years $65000 * 1.02^2.