Tom has just received a new job offer. He is told that his starting salary will be $75,000.00 per year. He is also told that his salary with probably be $83,000.00 in four years. We will use this data to try to anticipate his future earnings in any given year. Assume that y= Tom’s salary amount in dollars and x= the number of years worked.
Step 1: Use the data given to find the rate of change, or the salary increase per year.
(Hint: compute the slope)
We are now going to use a line to model Tom’s salary growth.
Step 2: Use the data given and the slope value from Step 1 to write the slope-intercept form of the line.
Step 3: Based on your equation from Step 2, what will Tom’s salary be in ten years?