document.write( "Question 171422: In 2003, the federal minimum wage rate was $5.75 per hour. In 2007, It increased to $6.75. Find the annual rate of change in the federal minimum wage rate from 2003 to 2007. \n" ); document.write( "

Algebra.Com's Answer #126560 by Mathtut(3670) $\"\"$ $\"About$

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5.75+5.75x=6.75 where x is the interest rate increase
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\n" ); document.write( "5.75x=1
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\n" ); document.write( "x=.174 or 17.4% over 4 years....so to find out an annualize rate we need to
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\n" ); document.write( "divide by 4
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\n" ); document.write( " $\"highlight%2817.4%2F4=4.35%29\"$ % per annum \n" ); document.write( "

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