Name: Trig Assignment for Week of 5/18 - Exponential Functions Involving Percent Increase or Decrease
You are looking for part-time work in your neighborhood. A local shopkeeper offers you these two options for calculating your monthly pay:
Option 1: A flat rate of $1200 for 80 hours of work each month.
OR
Option 2: A penny (.01) for the first hour, then a 16% increase in pay compounded hourly.
a. Is this a growth or decay problem? (1 point)
b. Identify the initial value. (1 point)
c. Identify the rate as a percentage. Then, rewrite the percentage in decimal form. (1 point)
d. Model the pay, P(h), at the shop as a function of time, h, in hours. (2 points)

e. If you choose option 2 and plan to work 80 hours, how much will you get paid? (Round your answer to the nearest hundredth or cent.) (2 point)
f. Construct a table that models pay at the shop over time if you choose option 2. (1 point)
h (in hours)
P(h) (in dollars)
0
10
20
30
40
50
60
70
80
g. With option 2, how many hours of work will it take for you to earn $3.79? (1 point)

h. Graph the exponential function. (1 point)
i. Your friend wants to work with you at the shop but is very confused with the two options for calculating monthly pay. Explain to them, in detail, which option is better. (2 points)