Question

The expression below represents Julias annual salary after tyears interpret the meaning of the expression 25,000(1.04) interpret the meaning of the expression
A julia initial salary is 4,000 and growth is 2.5 %per yr
B salary is 25,000 growth 40% per yr
C salary is 4,000 growth is 4% per yr
D salary is 25,000 growth rate is 4% per yr

Answer 1

Given that the expression for Julia's salary after t years is given by:
25000(1.04)^t
This can be interpreted as follows:
Initial salary is $25000
growth rate is 0.04=4%
thus the correct answer is:
D salary is 25,000 growth rate is 4% per yr