Concept explainers
To calculate:
The salary amount of fifth year.
Answer to Problem 1P
The salary amount of fifth year is
Explanation of Solution
Given information:
Starting salary:
Annual raises:
Formula used:
Where,
Calculation:
First, identify the first term of the arithmetic sequence such as the initial salary,
Then consider the common difference of the arithmetic sequence, the amount pay will change in each year.
Now, identify the indicated term of the sequence, the year in which about to know the salary.
So, by using all of the this the given equation is
The salary amount of fifth year is
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