If we assume the growth of minimum wage is exponential and is growing at the rate of

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If we assume the growth of minimum wage is exponential and is growing at the rate of $2 \%$, then the time $t$ it takes for a minimum wage of $w$ dollars to reach $d$ dollars is given by the formula

\[t=50 \ln \left(\frac{d}{w}ight)\]

Solve this equation for $d$.

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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Jan 27, 2024 12:05 PM

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If we assume the growth of minimum wage is exponential and is growing at the rate of

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