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Math Help - Sequences, Induction, and probability review

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    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?
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    Quote Originally Posted by yoman360 View Post
    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.
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    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<br />
1 & 32,000 \\<br />
2 & 32,000(1.06) \\<br />
3 & 32,000(1.06^2) \\<br />
4 & 32,000(1.06^3) \\<br />
\vdots & \vdots <br />
\end{array}

    Get the idea?

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  4. #4
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    Quote Originally Posted by Soroban View Post
    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<br />
1 & 32,000 \\<br />
2 & 32,000(1.06) \\<br />
3 & 32,000(1.06^2) \\<br />
4 & 32,000(1.06^3) \\<br />
\vdots & \vdots <br />
\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
    Last edited by yoman360; June 13th 2009 at 11:28 PM.
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