Question

A worker earned a 3% increase in her annual salary for each of 5 years. They plan to continue working in their position for an additional n years. If they continue to earn a 3% increase in their annual salary, which statement describes the expression that can be used to calculate the total percent increase in their annual salary from the first year to the last year?

Answer 1

Using an exponential function, it is found that the expression that can be used to calculate the total percent increase in their annual salary from the first year to the last year is given by:

$P = 100\% \times [(1 .03)^t - 1]$

What is an exponential function?

An increasing exponential function is modeled by:

$A(t) = A(0)(1 + r)^t$

In which:

• A(0) is the initial value.

• r is the decay rate, as a decimal.

As a percentage, the increase is modeled by:

$P = 100\% \times [(1 + r)^t - 1]$

In this problem, the growth rate is of r = 0.03, hence:

$P = 100\% \times [(1 + 0.03)^t - 1]$

$P = 100\% \times [(1 .03)^t - 1]$

More can be learned about exponential functions at https://brainly.com/question/25537936