Question

EP6. Abby works at a job that starts out paying $15 per hour. Each year she continues

at the job, she will get a 5% raise. How much will Abby make per hour if she stays at that
job for 30 years?

Answer 1

$64.83.

Explanation:

Each year the multiplier fffor her new rate will be 1.05.

So after 30 years her hourly rate will be 15 * 1.05^30

= $64.83