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April 17, 2014

April 17, 2014

Posted by **Jon** on Friday, December 11, 2009 at 10:04pm.

In 1970, the minimum wage was $1.60 per hour. In 2000, the minimum wage was $5.15 per hour. When will the minimum wage be $7.50 per hour?

- math -
**Reiny**, Friday, December 11, 2009 at 10:42pmAre you assuming that the wage is increasing according to a linear function?

if so,

then you can treat your data as two ordered pairs

(1970,1.60) and (2000,5.15)

slope = (5.15-1.6)/(2000-1970) = 3.55/30 = 71/600 or .11833333..

using y = mt + b and the point (2000,5.15)

5.15 = (71/600)2000 + b

b = -103/20

so y = (71/600)t - 13891/60

check: if t=1970

y = (71/600)(1970) - 13891/60 = 1.6, check!

so now we want y = 7.5

7.5 = (71/600)t - 13891/60

t = 2019.8

so it will take to 2020, WoW!!!

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