An employee joined a company in 2015 with a starting yearly salary of $50,000. Every year this employee receives a raise of: $1000 plus 5% of the salary of the previous year. Part b is a challenge! a. Determine the recurrence relation for this employee's salary n years after 2015, and use this relation to compute this employee's salary for 2016, 2017, 2018, and 2019. b. Find an explicit formula for this employee's salary n years after 2015, verify that it computes his salary for 2019 correctly, and using this formula compute this employee's salary in 2020. c. Write a general explicit formula for any employee that has any starting salary (S) instead of $50,000, any base raise (b) instead of $1000, and any percentage increase (r) instead of 5%.
An employee joined a company in 2015 with a starting yearly salary of $50,000. Every year this employee receives a raise of: $1000 plus 5% of the salary of the previous year. Part b is a challenge!
a. Determine the recurrence relation for this employee's salary n years after 2015, and use this relation to compute this employee's salary for 2016, 2017, 2018, and 2019.
b. Find an explicit formula for this employee's salary n years after 2015, verify that it computes his salary for 2019 correctly, and using this formula compute this employee's salary in 2020.
c. Write a general explicit formula for any employee that has any starting salary (S) instead of $50,000, any base raise (b) instead of $1000, and any percentage increase (r) instead of 5%.
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