Last year, Frank earned $7.48 per hour. This year the company decided to give him a 30% increase in his hourly rate. How much is Frank earning per hour this year?

A $7.78
B $9.72
C $10.48
D $22.44
E $24.93
@MissSmartiez

Question

Last year, Frank earned $7.48 per hour. This year the company decided to give him a 30% increase in his hourly rate. How much is Frank earning per hour this year?

A $7.78
B $9.72
C $10.48
D $22.44
E $24.93
@MissSmartiez

misssmartiez · Answer

Construct to decimal.

0.30 x 7.48 

However, I need to know. Are you finding out the balance, simple interest rate, or compound interest?

anonymous · Answer

balance

misssmartiez · Answer

ok 

B = P ( 1 + R) ^T

misssmartiez · Answer

7.48 * (1 + 0.30) ^ 1 year.

PEMDAS


1.30^1 = 1.30.

1.30 * 7.48 = ?

misssmartiez · Answer

9.724.

Round it ;)


9.72.

Your answer is B, see what we did there? Tell me if you are still confused.

anonymous · Answer

9.72

anonymous · Answer

I'm still a little confused

misssmartiez · Answer

The formula is Principal, ( 1 + interest rate)^ time/year.

misssmartiez · Answer

Principal is usually the money he earns now.

Rate is usually the percent.


Time is hours, years, months, (mostly years)

misssmartiez · Answer

@flowercrownmgc