Question

Suppose that a new employee starts working at ​$7.72 per hour and receives a 5​% raise each year. After time​ t, in​ years, his hourly wage is given by the equation y=$7.72(1.05)t. Find the amount of time after which he will be earning​ $10.00 per hour.

After what amount of time will the employee be earning​ $10.00 per​ hour?

Answer 1

substitute 10 for y (y=10) and solve for t

2.17

Explanation:

I think the equation is written wrong because assuming that his wage increases at the end of each year, the beginning of the first year wages should be 7.72, not 0.

recommended correction

y=7.72 + (1.05)t