The average annual salary of the employees of a company in the Year 2005 was $70,000. It increased by the same factor each year and in 2006 the average annual salary was $82,000. Let f(x) represent the average annual salary in thousand dollars after x years since the 2005. Which of the following best represents the relationship between x and f(x)?f(x)=70(1.17)^xf(x)=82(1.17)^xf(x)=70(2.2)^xf(x)=82(2.2)^x

Answer:[tex]f(x)=70(1.17)^x[/tex]Step-by-step explanation: x is time in yearsf(x) represent the average annual salary in thousand dollarsWe are given The average annual salary of the employees of a company in the Year 2005 was $70,000We can use exponential formula [tex]f(x)=a(b)^x[/tex]Since, time starts from 2005So, at  x=0 , f(x)=70we can use it [tex]70=a(b)^0[/tex][tex]a=70[/tex]in 2006 the average annual salary was $82,000So, in x=2006-2005=1f(x)=82we can plug it and find b[tex]82=70(b)^1[/tex][tex]b=\frac{41}{35}[/tex][tex]b=1.17[/tex]now, we can plug it back and we get [tex]f(x)=70(1.17)^x[/tex]