SOLUTION: In 1991, the federal minimum wage rate was $4.25 per hour. in 1997, it was increased to $5.15. find the annual rate of change in the federal minimum wage rate from 1991 to 1997.

SOLUTION: In 1991, the federal minimum wage rate was $4.25 per hour. in 1997, it was increased to $5.15. find the annual rate of change in the federal minimum wage rate from 1991 to 1997.

Algebra.Com

Question 173449This question is from textbook algebra 1
: In 1991, the federal minimum wage rate was $4.25 per hour. in 1997, it was increased to $5.15. find the annual rate of change in the federal minimum wage rate from 1991 to 1997. This question is from textbook algebra 1

Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
5.15-4.25=.85
:
rate of change from 1991 to 1197 is .85/5.15=.165 or 16.5%
:
on an annulized basis this would be %
RELATED QUESTIONS
In 2003, the federal minimum wage rate was $5.75 per hour. In 2007, It increased to... (answered by Mathtut)

In 2009, the federal minimum wage in the United States increased from $6.55 per hour (in... (answered by josgarithmetic)

the minimum wage set in 1997 was $5.15 per hour.evaluate the expression 40h where h=$5.15 (answered by jojo14344)

In 2000 there were 48.5 births per 1000 females 15 to 19 years of age. This birth rate is (answered by funmath)

Write an equation and solve. From the years 1980 to 2005 the minimum hourly wage... (answered by Nate)

In 2009 the federal minimum wage increased from $6.55 per hour to $7.25 per hour. By what (answered by josgarithmetic,ikleyn)

Hi, I have to solve this problem that says " In 1980, the federal hourly minimum wage was (answered by scott8148)

The population of a country Dnalgne is 80 million in 1997 and increasing at a rate of 0.2 (answered by stanbon)

In 2000 there were 48.5 births per 1000 females 15 to 19 years of age. This birth rate is (answered by Alan3354)