Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mateo leverages his skills to work part-time in an entry-level data entry and analysis role(using Microsoft Excel!).The job pays $30 per hour and his salary

Mateo leverages his skills to work part-time in an entry-level data entry and analysis role(using Microsoft Excel!).The job pays $30 per hour and his salary increases by 5%, continuously compounded, annually.He starts with 200 hours per year and he will increase his work hours linearly for the next 3 years. After those 3 years,he will leave the role and pursue a permanent position.If he hopes to earn $45000 over those 3 years, how many hours per year must he working at the time he leaves the job?Please round your answer to two decimal places (only round at the very end of problem)

This is the hint provided: Ifwetrytowriteanequationforhisworkhours(eqn.ofaline),wedon'tknowtheslopesobegin by assigning a variable to it.Let m be the slope.Then,our equation (in point-slope form) should look like H stuff =m (t other stuff) where H= hours working per year and t= number of years since Mateo started. We know what stuff and other stuff are.What are they?From there, set up an integral, similarly to how we did in class.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics Principles, Problems, And Policies

Authors: Campbell McConnell

21st Edition

1259915727, 9781259915727

More Books

Students also viewed these Economics questions

Question

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago