Question

From 1995-2005, the hourly pay for lifeguards at an outdoor swimming pool increased by 2% per year. The hourly pay, P(t), in dollars, t yr after 1995 is given by P(t)=5.60(1.02)t. What was the hourly pay for the lifeguards in 2,001?

Answer 1

The hourly pay for the lifeguards in 2001 was of $6.31.

Explanation:

The hourly pay, in dollars, in t years after 1995, is given by the following equation:

`P(t) = 5.60(1.02)^(t)`

What was the hourly pay for the lifeguards in 2,001?

2001 is 2001 - 1995 = 6 years after 1995. So this is P(6).

`P(t) = 5.60(1.02)^(t)`

`P(6) = 5.60(1.02)^(6) = 6.31`

The hourly pay for the lifeguards in 2001 was of $6.31.