The salary function shows exponential growth. This means that each year, Luke will make more money at his job. The value 62,000 represents the initial value of the function and is the amount of money Luke will make during his first year teaching. Each year, Luke will receive a 5% raise.
Luke is starting a new job as a math teacher and his salary is modeled by the following equation: f(x) = 62,000 ⋅ 1.05x Use the drop down menus to describe Luke's salary. (4 points) The salary function shows exponential (growth or decay). This means that each year, Luke will make (more or less) money at his job. The value 62,000 represents the (initial value, growth factor, percent increase) of the function and is the amount of money Luke will make during his first year teaching. Each year, Luke will get receive a (1.05%,62%,5%) raise.
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