Question

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

Answer 1

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 = 21*1.539 
h = 32.31 

So the answer is B. $32.31

Answer 2

u will have over 90 dollars