Congratulations!! You are hired at Roof and Vinyl Housing Systems. Your starting salary is $45,600 for the year. Each year you stay employed with them your salary will increase by 3.5%. Determine what your salary would be if you worked for the company for 12 years.
Set up a function S(y) where y is the number of years after you start at the Roof and Vinyl place.
S(y) = 45600 * (1.035)^y <-- Since 3.5% = 0.035
The question asks for S(12):
S(12) = 45600 * (1.035)^12
S(12) = 45600 * 1.51106865735
S(12) = 68,904.73
Set up a function S(y) where y is the number of years after you start at the Roof and Vinyl place.
S(y) = 45600 * (1.035)^y <-- Since 3.5% = 0.035
The question asks for S(12):
S(12) = 45600 * (1.035)^12
S(12) = 45600 * 1.51106865735
S(12) = 68,904.73