Question: Maxine found an old pay statement from nine years ago. Her hourly wage at the time was $13.50 versus her current wage of $20.80 per

Maxine found an old pay statement from nine years ago. Her

Maxine found an old pay statement from nine years ago. Her hourly wage at the time was $13.50 versus her current wage of $20.80 per hour. At what equivalent (compound) annual rate has her wage grown over the period? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Compound annual rate 1%

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