Question

Please Help!

On federal income tax returns, self employed people can depreciate the value of business equipment. Suppose a computer valued at $1200 depreciates at a rate of 25% a year.

In 2005, the average retirement salary for Colorado teachers was $47,000. The contract promised a 2% raise every year.
How much money would that teacher be making in the year 2010? Round to the nearest $100.

Answer 1

I'm not sure the first part is a complete question.

For the second part, you multiply 47000 by 1.02, 5 times. Once for each year between 2005 and 2010.

Answer 2

\[a_n=a_{n-1}+(.02)a_{n-1}\]
\[a_n=(1+.02)a_{n-1}\]
\[a_n=(1.02)a_{n-1}\]
\[a_n=(1.02)(1.02)a_{n-2}\]
\[a_n=(1.02)(1.02)(1.02)a_{n-3}\]
\[a_n=(1.02)^4a_{n-4}\]
\[a_n=(1.02)^ra_{n-r}\]
\[a_n=(1.02)^na_{n-n}\]
\[a_n=(1.02)^na_{0}\]

Answer 3

since a_0 = 47000 we have a closed form of an equation that can tell us the value at the nth year;

2005 2010
-2005 -2005
-------------
0 5
\[a_5=(1.02)^5\ *47000\]

Answer 4

hi fools

Answer 5

thank u guys :)

Answer 6

Hey Sheg :)/

Answer 7

hello whats up any trouble

Answer 8

any problem to solve

Answer 9

yes i do please i have more!

Answer 10

On federal income tax returns, self employed people can depreciate the value of business equipment. Suppose a computer valued at $1200 depreciates at a rate of 25% a year.

In 2005, the average retirement salary for Colorado teachers was $47,000. The contract promised a 2% raise every year.
In what year would that teacher earn $60000?

Answer 11

so 1.02^x * 47000 = 60000. Solve for x. Divide by 47000, take the log of both sides.