SOLUTION: The hourly wage of some automobile plan workers went from 7.90 to 13.35 in 9 years annual raises if their wages are growing exponentially what will be their hourly wage in 3 more
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Question 1203685: The hourly wage of some automobile plan workers went from 7.90 to 13.35 in 9 years annual raises if their wages are growing exponentially what will be their hourly wage in 3 more years
Found 2 solutions by ikleyn, math_tutor2020:
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
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Answer by math_tutor2020(3816) (Show Source): You can put this solution on YOUR website!
x is some growth multiplier over any three-year period, where x > 1
year 3: 7.90 to 7.90x
year 6: 7.90x to 7.90x^2
year 9: 7.90x^2 to 7.90x^3 = 13.35
7.90x^3 = 13.35 solves to x = 1.1911 approximately
The three-year growth multiplier is 1.1911 to represent a 19.11% increase for any three year period.
We can then determine that 13.35*1.1911 = 15.901185 = 15.90 is the approximate hourly wage at year 12.
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