Question

1. jimmy has just started a new job, where his starting salary is $44000 per year and is expected to increase by 4.6% each year. tina has also just started a new job, which has a starting salary of $43000 per year and is expected to increase at a rate of 6.8% each year.

4a write an equation for $m$, jimmys salary in $t$ years time.
$m = \boxed{}$ enter your next step here

Explanation:

Step1: Identify growth formula form

This is exponential growth, use $M = P(1+r)^t$

Step2: Define variables for Jimmy

$P=44000$, $r=0.046$

Step3: Substitute into formula

$M = 44000(1+0.046)^t$

Step4: Simplify the growth factor

$1+0.046=1.046$

Answer:

$M = 44000(1.046)^t$