You earn $20.00 per hour at your job. If you get a 10% raise at the end of each year, what will your hourly rate, h, be after 8 years? Use the equation 2003-20-05-00-00_files/i0100000.jpg, where C is the beginning hourly rate, r is the growth rate, and t is time in years.
A.
$36.00
B.
$22.00
C.
$47.27
D.
$42.87

Question

You earn $20.00 per hour at your job. If you get a 10% raise at the end of each year, what will your hourly rate, h, be after 8 years? Use the equation 2003-20-05-00-00_files/i0100000.jpg, where C is the beginning hourly rate, r is the growth rate, and t is time in years.
A.
$36.00
B.
$22.00
C.
$47.27
D.
$42.87

anonymous · Answer

equation is h=C(1+r)^t

tkhunny · Answer

That's good.

C = 20.00
r = 0.10
t = 8

Go!

anonymous · Answer

h=20(1+.10)^8 is it set up properly?

tkhunny · Answer

Did you substitute anything incorrectly on purpose?

anonymous · Answer

i got 42.87?

anonymous · Answer

Thank you for your help!