Adrian’s annual income changes every year because of the following three factors:
On average, his salary is 1.2 times the previous year’s salary.
30% of his income is budgeted for rent.
In addition to his salary, Adrian’s income increases by $2,300 each year as
a result of gifts from family members.
If Adrian initially has $52,000 and n denotes the number of years, which recursive equation gives Adrian’s annual income as a function of the year, f(n)?
f(1) = 52,000; f(n) = 1.2 · f(n – 1) – 0.30 · f(n – 1) + 2,300; for n ≥ 2
f(1) = 52,000; f(n) = 1.2 · f(n – 1) + 0.30 · f(n – 1) + 2,300; for n ≥ 2
f(1) = 52,000; f(n) = 0.3 · f(n – 1) – 1.2 · f(n – 1) + 2,300; for n ≥ 2
f(1) = 52,000; f(n) = 0.3 · f(n – 1) + 1.2 · f(n – 1) + 2,300; for n ≥ 2
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