Solve the problem.Assume that a person's salary is $29,500 for the first year and that this person will receive a 4 percent raise at the end of each year. Let cn represent the person's salary (in thousands of dollars) for the nth year.i) Find a formula for cn.ii) When will the salary first be above $50,000?iii) What will be the person's salary for the 30th year?iv) What will be the total amount of money earned for 30 years?
What will be an ideal response?
| i) | cn = 29.5(1.04n-1) |
iii) $92,000.22
iv) $1,654,505.66
Mathematics
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