The function in Exercise represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded cont
1 answer:
You might be interested in
Answer:
$7.76
Step-by-step explanation:
Let x be the amount he was making before the raise.
He had an increase of 3.1% of x added to x which resulted in a new salary of $8.00 per hour.
Mathematically:
x = $7.76
He was making $7.76 before the raise.
<h3>Answer: 0.557</h3>
===================================================
Work Shown:
-------------
Side note:
A similar formula is
We can isolate the last term to get the first equation shown above.