Question

Olivia just graduated with an Associates degree and is working as a secretary in a firm earning 9.75 an hour.Her contract stipulates that she will get an annual rasie of 6% until she reaches the rate of $15.50 an hour. sheshow long would it take for Olivia to earn $15.50 an hour? math

Answer 1

Answer: In about 8 years, she will reach the rate of $15.50

This is an exponential equation. We could write and solve the equation below to find the answer.

9.75(1.06)^x = 15.5


(1.06)^x = 15.5/9.75 Divide both sides by 9.75

x (log(1.06)) = log(15.5/9.75) Take the log of both sides and bring down the x.

x = log(15.5/9.75) / log(1.06) Divide both sides by log(1.06)

x = 7.956

Therefore, we can round it up to 8 years.