Question

David currently earns $25.00 per hour. He receives a 5% raise each year. He

wants to know how many years it will be until he is earning more than $30.00
per hour.

Answer 1

4 years

Explanation:

30 = 25 ( 1.05)^n

1.2 = 1.05^n

log 1.2 / log 1.05 = n years = 3.73 ~ 4 years