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An employee joined a company in 2009 with a starting

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Question: An employee joined a company in 2009 with a starting salary of $50,000. Every year this employee receives a raise of $1000 plus 5% of the salary of the previous year.

a) Set up a recurrence relation for the salary of this employee n years after 2009.

b) What will the salary of this employee be in 2017?

c) Find an explicit formula for the salary of this employee n years after 2009.

Reference no: EM13593965

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