Question

Billy earns $25,000 the first year and gets a 5% raise each year. Write a possible explicit rule to describe its pattern. How much will he earn per year after 5 years? 10 years?

a) an = 25,000(1.05)^n-1; $31,907; $40,722.
b) an = 1.05(25,000)^n-1; $31,907; $40,722.
c) an = 25,000(1.05)^n-1; $30,388; $38,783.
d) an = 1.05(25,000)^n-1; $30,388; $38,783.