Question

Please Help this the last question i have left
Suppose you sign a contract for an annual salary of $50,000 with a guaranteed raise of 5% each year.
Write your salary for the next n years as a geometric sequence in explicit form.
What will your salary be in year 5?
How much will you have earned in total salary by the end of your 10th year?

Answer 1

you start with 50000 and after each year you multiply that by 1.05 to make it 105% to add in the raise 5%.

So after 1 year, salary
50000*(1.05)

after 2 years
50000 *1.05* 1.05

after 3 years
50000*(1.05) *1.05 *1.05

Answer 2

you see it forms into an exponential equation
\[\large y=A*b^x\]

A is the initial value when x=0, A=50000
From above, the multiplier base for the exponent is 1.05 in this prob

y = 50000*(1.05)^x

Answer 3

Okay thank you