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7 May, 09:08

The average annual salary of the employees of a company in the year 2005 was $70,000. It increased by the same factor each year and in 2006, the average annual salary was $82,000. Let f (x) represent the average annual salary, in thousand dollars, after x years since 2005. Which of the following best represents the relationship between x and f (x) ?

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Answers (2)
  1. 7 May, 09:11
    0
    Options:

    (A) f (x) = 70 (1.17) ^x

    (B) f (x) = 82 (1.17) ^x

    (C) f (x) = 70 (2.2) ^x

    (D) f (x) = 82 (2.2) ^x

    Base is 2005 salary, 70,000.

    Change is 82,000/70,000 = 1.17

    Correct answer is: A) f (x) = 70 (1.17) ^x
  2. 7 May, 09:17
    0
    We can make use of the general formula for the geometric series to generate the function representing the average annual salary.

    an = a0 (r) ^ (n-1)

    Or

    f (x) = a0 (r) ^ (x - 1)

    Plugging in the given values for the year 2005 and 2006 to ge the value of r.

    82000 = 70000 (r) ^ (1-1)

    r = 1.1714

    Therefore, the function is:

    f (x) = 70,000 (1.1714) ^ (x-1)
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