Q:

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? Use the equation 2003-20-05-00-00_files/i0060000.jpg, where C is the beginning hourly rate, r is the growth rate, and t is time in years.

Accepted Solution

A:
After 6 years, the hourly rate should be 34.69 (or something around that since you may want to round)