In 2020 the minimum wage in for someone working in Ohio is $8.70. Suppose that there...
In 2020 the minimum wage in for someone working in Ohio is $8.70. Suppose that there are two different plans to raise minimum wage. The first plan (examined on p. 8) proposes that the minimum wage should increase by $0.25 per year. The second plan (examined on p. 9) proposes that minimum wage should increase by 2.1% per year.
Examine the first plan to increase the current minimum wage of $8.70 by $0.25 per year. A. Write a formula to model what the federal minimum wage, W, should be t years after 2020.
Homework Answers
2020 is the base year and since each year the minimum wage is increasing by same amount hence this is a linear relation.
The rate of increase is $0.25 per year hence this is the slope of the line.
The starting value is $8.7 hence this is y-intercept of the line.
W = 0.25t + 8.7, will be the relation where 't' is t years after 2020 and $8.7 is showing minimum wage in 2020.
Please comment if any doubt. Thank you.
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