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issaclizardman1 issaclizardman1
  • 29-06-2016
  • Mathematics
Answered

You earn $15.00 per hour at your job. If you get a 15% raise at the end of each year, what will your hourly rate, h, be after 6 years? i am confused

Verified Answer :

Anonymous Anonymous
  • 29-06-2016



Plug in the values into the equation h=c(1+r)^t 


Plug in the values into the equation h=c(1+r)^t 
You know that: 
c = 21 
r = 0.09 
t = 5 

So h = 21(1+0.09)^5 
... 
h = 21(1.09)^5 
h = 211.539 
h = 32.31 

So the answer is B. $32.31


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Fazeshocker1000
Fazeshocker1000 Fazeshocker1000
  • 29-06-2016

u will have over 90 dollars

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