Question

1. your starting annual salary of $35,000 increases by 4% each year.

Explanation:

Since the problem statement is incomplete (it just describes the salary increase scenario but doesn't ask a specific question like finding the salary after a certain number of years, the total increase, etc.), we can't provide a solution yet. If you want to find, for example, the salary after \( n \) years, we can use the formula for compound growth. Let's assume the question is to find the salary after \( t \) years.

Step 1: Recall the compound growth formula

The formula for compound growth is \( A = P(1 + r)^t \), where \( A \) is the final amount, \( P \) is the principal (initial amount), \( r \) is the annual growth rate (in decimal), and \( t \) is the number of years.
Here, \( P=\$35000 \), \( r = 4\%= 0.04 \). So the formula becomes \( A = 35000(1 + 0.04)^t=35000(1.04)^t \).

Step 2: If we want to find the salary after a specific number of years, say \( t = 5 \) years (just an example)

Substitute \( t = 5 \) into the formula:
\( A=35000\times(1.04)^5 \)
First, calculate \( (1.04)^5\approx1.2166529024 \)
Then, \( A = 35000\times1.2166529024\approx\$42582.85 \)

But since the original problem doesn't have a specific question, please clarify what you want to calculate (e.g., salary after a certain number of years, total increase, etc.) so that we can provide a more targeted solution.

Answer:

Step 1: Recall the compound growth formula

The formula for compound growth is \( A = P(1 + r)^t \), where \( A \) is the final amount, \( P \) is the principal (initial amount), \( r \) is the annual growth rate (in decimal), and \( t \) is the number of years.
Here, \( P=\$35000 \), \( r = 4\%= 0.04 \). So the formula becomes \( A = 35000(1 + 0.04)^t=35000(1.04)^t \).

Step 2: If we want to find the salary after a specific number of years, say \( t = 5 \) years (just an example)

Substitute \( t = 5 \) into the formula:
\( A=35000\times(1.04)^5 \)
First, calculate \( (1.04)^5\approx1.2166529024 \)
Then, \( A = 35000\times1.2166529024\approx\$42582.85 \)

But since the original problem doesn't have a specific question, please clarify what you want to calculate (e.g., salary after a certain number of years, total increase, etc.) so that we can provide a more targeted solution.