Ask Question
21 June, 20:12

Suppose that a new employee starts working at $7.65 per hour and receives a 5 % raise each year. After time t, in years, his hourly wage is given by the equation y=$7.65 (1.05) ^t. Find the amount of time after which he will be earning $10.00 per hour.

+5
Answers (1)
  1. 21 June, 22:28
    0
    5.49 years

    Step-by-step explanation:

    y = $7.65 (1.05) ^t

    You want to know for which value of t, y equals $10.

    $10 = $7.65 (1.05) ^t

    10/7.65 = 1.05^t

    log (10/7.65) = log 1.05^t

    log (10/7.65) = t (log 1.05)

    t = [log (10/7.65) ] / (log 1.05)

    t = 5.49
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose that a new employee starts working at $7.65 per hour and receives a 5 % raise each year. After time t, in years, his hourly wage is ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers