Write a function in terms of tt that represents the situation. Your starting annual salary of $35,000 increases by 4% each year.

Question

 I have tried, but to no extent figured this out!

Answer 1

Salary after 1 year = 35,000 + 0.04(35,000) = 35,000(1.04)

 

Salary in 2 years = 35,000(1.04) + 0.04[35,000(1.04)] = 35,000(1.04)(1+0.04)

 

                                                                                 = 35,000(1.04)²   etc

 

Salary in t years = 35,000(1.04)^t