Solve the Problem. -The Change in a Certain Engineer's Salary Over Time Can

question 79

Multiple Choice

Solve the problem.
-The change in a certain engineer's salary over time can be approximated by the linear equation y = 1500x + 47,500 where y represents salary in dollars and x represents number of years on the job.According to this equation, after how many years on the job was the engineer's salary $64,000?

• A)13 years
• B)11 years
• C)12 years
• D)10 years

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Definitions:

Fund Replenishing

The process of adding money to a fund to restore its level after expenses have been incurred.

Making Payments

This process involves the transfer of funds from one party to another to settle a financial obligation or purchase.

Cash Equivalents

Investments with a short duration, easily turned into cash, and having an original maturity of no longer than three months, which are both highly liquid and quickly convertible into precise cash sums.

Short-Term Receivables

Current assets representing amounts due to be received by a company within a short period, typically within a year, from customers or clients.