heather just got hired as an administrative assistant at haven enterprises. her starting salary is $45,500…

heather just got hired as an administrative assistant at haven enterprises. her starting salary is $45,500, and her contract ensures that she will get a 3% salary increase each year. write an exponential equation in the form y = a(b)^x that can model heathers salary, y, after x years. use whole numbers, decimals, or simplified fractions for the values of a and b. y =

heather just got hired as an administrative assistant at haven enterprises. her starting salary is $45,500, and her contract ensures that she will get a 3% salary increase each year. write an exponential equation in the form y = a(b)^x that can model heathers salary, y, after x years. use whole numbers, decimals, or simplified fractions for the values of a and b. y =

Answer

Explanation:

Step1: Identify the initial - value

The starting salary is the initial value $a$. Given that the starting salary is $$45500$, so $a = 45500$.

Step2: Identify the growth - factor

The salary increases by $3%$ each year. The growth factor $b$ is $1 +$ the growth rate. The growth rate is $3%=0.03$, so $b=1 + 0.03=1.03$.

Step3: Write the exponential equation

Substitute $a = 45500$ and $b = 1.03$ into the form $y=a(b)^x$. We get $y = 45500(1.03)^x$.

Answer:

$y = 45500(1.03)^x$