Linear Equations Mathematics & Economics Math Problem (Math Problem Sample)

Linear Equations
Let Toms’ annual salary after x years be denoted by y in dollars.
Step 1
At the start, when x=0 years, y=$ 75,000.00 and when x=4 years, y=$ 81,000.00
The annual rate of change in the Toms’ salary is given by
Rate of change= ∆y∆x=$ 81,000.00-$75,000.00(4-0) years=$ 6,000.004 years=1,500.00 $/year (1)
Step 2
The model of the Toms’ annual salary y in dollars after x years is in slope-intercept form is given by
y=∆y∆xx+C.
We have adopted the notation by (Anthony & Burgess, 2014), where in this case, ∆y∆x=1,500.00 $/year is the annual rate of change of salary and C is a constant denoting the starting annual salary. Using ∆y∆x=1,500.00 $/year we can write the model equation as
y=1500x+C.(2)