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18 September, 04:48

You earn $21.00 per hour at your job. If you get a 9% raise at the end of each year, what will your hourly rate, h, be after 5 years? Use the equation h = C (1 + r) ^t where C is the beginning hourly rate, r is the growth rate, and t is time in years.

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  1. 18 September, 05:01
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    Plug in the info given and solve:

    h = 21 (1.09) ^5

    h = $32.31
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