The average annual salary of the employees of a company in the year 2005 was $80,000. It increased by the same factor each year and in 2006, the average annual salary was $88,000. Let f (x) represent the average annual salary, in thousand dollars, after x years since 2005. Which of the following best represents the relationship between x and f (x) ?

Question

Mathematics

Sarai Holder

25 April, 10:43

The average annual salary of the employees of a company in the year 2005 was $80,000. It increased by the same factor each year and in 2006, the average annual salary was $88,000. Let f (x) represent the average annual salary, in thousand dollars, after x years since 2005. Which of the following best represents the relationship between x and f (x) ?

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Answers (1)

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Anabel Obrien · Answer 1

F=ir^t, where f=final amount, i=initial amount, r=rate, t=time

88000=80000*r^1

1.1=r

So there is a 10% increase every year and the function describing this particular situation is:

F=80000 (1.1) ^t