Question

im1 mini quiz 07: exponential fun...

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.
$m = 44000(1.046)^t$
5 nice work!
4b write an equation for $p$, tinas salary in $t$ years time.
$p = $
enter your next step here

Explanation:

Step1: Identify growth rate multiplier

The annual increase rate is 6.8%, so the multiplier is $1 + 0.068 = 1.068$.

Step2: Set up exponential growth equation

Use initial salary $43000$ and multiplier for $t$ years.
$P = 43000(1.068)^t$

Answer:

$P = 43000(1.068)^t$