I need the answer please :)

Question

The hourly wage of some automobile plan workers went from $7.10 to $11.40 in 7 years (annual raises).

If their wages are growing exponentially what will be their hourly wage in 9 more years?

round to (nearest $0.10)

Answer 1

This is more of a precalculus question.

You need to use the equation

A = Pe^rt

and then solve for r when A=11.40, P=7.10 and t = 7 to derive the exponential increase equation.

Then use that equation to solve for A when t = 7+9 = 16, P = 7.10 and r = ln(11.40/7.10)/7

A = 7.10(11.40/7.1)^16/7