If the Inflation Rate for the Next 20 Years Is

question 12

Multiple Choice

If the inflation rate for the next 20 years is 4% per year, what hourly rate of pay in 20 years will be equivalent to $10 per hour today?

• A) $226.00
• B) $14.56
• C) $19.19
• D) $21.91
• E) $22.60

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Definitions:

Piecewise Function

A mathematical function defined by different expressions over different intervals of the input variable.

Cellular Phone Service

A communication service provided by telecommunication companies that allows the use of mobile phones.

Piecewise Function

A mathematical function defined by multiple sub-functions, each applying to a certain interval of the overall domain.

Water Meter

A device used to measure the volume of water usage in residential, commercial, or any other building for the purpose of billing and monitoring.