You earn $21.00 per hour at your job. if you get a 9% raise at the end of each year, what will your hourly rate, h, be after 5 years? use the equation h=c(1+r)^t, where c is the beginning hourly rate, r is the growth rate, and t is time in years.
a.
$30.45
b.
$32.31
c.
$34.70
d.
$40.00

Option B $32.31 per hour

Step-by-step explanation:

I earn $21 per hour at my job. If i get a hike of 9% raise at the end of each year then i have to calculate the my hourly rate h, after 5 years.

Since the given equation is

where C is the beginning hourly rate = $21 per hour

r = growth rate = 9%

t = time in years = 5 years

By putting these values in the formula

h = 21×1.5386 = $32.31 per hour

Therefore option B. $32.31 per hour is the answer.

b

step-by-step explanation: