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:

Given

Initial pay = $32000
Increase rate = 4%

a. Formula

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. P(x) = 40000, x = ?

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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