Posted by **SC** on Tuesday, November 3, 2009 at 8:48pm.

In 1968, the U.S. minimum wage was $1.60 per hour. In 1976, the minimum wage was $2.30 per hour. Assume the minimum wage grows according to an exponential model w(t), where t represents the time in years after 1960.

Find the Formula for w(t)

My work so far:

n=y(not)

t=0

y=1.60

1.60=nb^0

n=1.6

t=8

y=2.30

2.30=1.60b^8

b=1.04640783

the final answer is suppose to be

y=1.113(1.04640783)^t

but i don't know how to find the 1.113

where did that come from?

## Answer This Question

## Related Questions

- math - Hi I can't remember how to figure this out. Can you give me an idea? In ...
- algebra - Minimum Wage: The table shows minmum wage for three different years ...
- algebra - restaurants typically pay wait staff an hourly wage that is lower than...
- macroeconomics - Suppose in 2009 the united states congress passes a minimum ...
- Algebra - Minimum Wage. In 1995, the minimum wage was $4.25 per hour, and by ...
- Algebra - The table shows the minimum wage for three different years. Year 1940...
- macroeconomic - Suppose in 2007 the United States Congress passes a minimum wage...
- Math - 1. Make a scatterplot of the data in the viewing rectanlge[19030,2010,10]...
- math - the minimum wages increased from $5.25-$5.75 per hour,what is the percent...
- microeconomics - utilize your knowledge of supply/demand analysis and show ...

More Related Questions