lilinicholeb
15.03.2020 •
Mathematics
Vicky starts a new job with an hourly pay of 7.15$. Suppose that her hourly pay increases by 5% each year. What will Vicky’s hourly pay be in 3 years
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Ответ:
$8.28
Step-by-step explanation:
This is a compound growth problem.
The formula is:
Where F is the future amount (amount in 3 yrs)
P is the initial amount (here, it is 7.15)
r is the rate of growth, in decimal (5% means 5/100 = 0.05)
t is the time , in years ( t = 3)
Now, substituting, we find the hourly wage after 3 years:
Hence,
after 3 years, at 5% growth, the new hourly wage would be $8.28
Ответ: