Jennifer started working at her job earning $$ 6.25$ per hour.
Every $6$ months she gets a $3.25 %$ raise.
If Jennifer has worked at her job for $14$ years, what is her hourly rate?

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Solution

Calculating her hourly rate after $14$ years:
After $14$ years on the job, Jennifer will have received $28$ raises.
Her hourly salary is $= $ 6.25 \times {(1 + 0.0325)}^{28} = $ 15.30$
Hence, her hourly rate after $14$ years is $$ 15.30$

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Jennifer started working at her job earning $6.25 per hour. Every 6 months she gets a 3.25% raise. If Jennifer has worked at her job for 14 years, what is her hourly rate?

Calculating her hourly rate after 14 years:After 14 years on the job, Jennifer will have received 28 raises. Her hourly salary is=$6.25×(1+0.0325)28=$15.30Hence, her hourly rate after 14 years is $15.30

Jennifer started working at her job earning $$ 6.25$ per hour.
Every $6$ months she gets a $3.25 %$ raise.
If Jennifer has worked at her job for $14$ years, what is her hourly rate?

Calculating her hourly rate after $14$ years:
After $14$ years on the job, Jennifer will have received $28$ raises.
Her hourly salary is $= $ 6.25 \times {(1 + 0.0325)}^{28} = $ 15.30$
Hence, her hourly rate after $14$ years is $$ 15.30$