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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