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rewona [7]
3 years ago
9

PLEASE HELP

Mathematics
1 answer:
kolbaska11 [484]3 years ago
3 0

Answer:

  • a) P(x) = 32000*1.04^x
  • b) $37435
  • c) During year 7

Step-by-step explanation:

<u>Given</u>

  • Initial pay = $32000
  • Increase rate = 4%

a. <u>Formula</u>

  • P(x) = 32000*1.04^x

b. Year 5 is after 4 years, so we are looking for the value of P(4)

  • P(4) = $32000*1.04^4 = $37435

c. <u>P(x) = 40000, x = ?</u>

  • 40000 = 32000*1.04^x
  • 1.04^x = 40000/32000
  • 1.04^x = 1.25
  • log 1.04^x = log 1.25
  • x = log 1.25 / log 1.04
  • x = 5.69, this is 6 years after

The required number of the years is 6 + 1 = 7

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