Thread: Sequences, Induction, and probability review

1. Sequences, Induction, and probability review

So I was working on the review for the chapter and I need help.

33.) A job pays $32,000 for the 1st year with an annual increase of 6% per year beginning in the 2nd year. What is the salary in the 6th year? 2. Originally Posted by yoman360 So I was working on the review for the chapter and I need help. 33.) A job pays$32,000 for the 1st year with an annual increase of 6% per year beginning in the 2nd year. What is the salary in the 6th year?
Yr 1: $32,000. Yr 2:$32,000 + 6% of $32,000 =$32,000 + $1,920 =$33,920.

Yr 3: $33,920 + 6% of$33,920 = $33,920 + ....... = ...... Yr 4: ....... etc. 3. Hello, yoman360! 33) A job pays$32,000 for the 1st year with an annual increase of 6% per year
beginning in the 2nd year. What is the salary in the 6th year?
After the first year, the salary increases by 6% annually.
Each year, the salary is 106% of the previous year's salary.

. . $\begin{array}{cc}\text{Year} & \text{Salary} \\ \hline
1 & 32,000 \\
2 & 32,000(1.06) \\
3 & 32,000(1.06^2) \\
4 & 32,000(1.06^3) \\
\vdots & \vdots
\end{array}$

Get the idea?

4. Originally Posted by Soroban
Hello, yoman360!

After the first year, the salary increases by 6% annually.
Each year, the salary is 106% of the previous year's salary.

. . $\begin{array}{cc}\text{Year} & \text{Salary} \\ \hline
1 & 32,000 \\
2 & 32,000(1.06) \\
3 & 32,000(1.06^2) \\
4 & 32,000(1.06^3) \\
\vdots & \vdots
\end{array}$

Get the idea?

Thanks this helped me to figure it out using the formula for the general term of a geometric sequence
$a_n=a_1*r^{n-1}$
$a_n=32000*(1.06)^5$