https://file.aiquickdraw.com/mathbot/file/1737949656502xclnhh26.jpg

To solve this, we can use the formula for compound interest, since the wage increases by a percentage each year. The formula is:

\[
A = P(1 + r)^t
\]

Where:
- $ A $ is the final amount (wage after 10 years),
- $ P $ is the initial amount (starting wage, $6.00),
- $ r $ is the annual increase rate (5.5%, or 0.055),
- $ t $ is the time in years (10 years).

Now, we can plug the numbers into the formula:

\[
A = 6.00(1 + 0.055)^{10}
\]

Let's calculate the result.

\[
A = 6.00(1.055)^{10}
\]

Now we can compute this value. Calculating the final wage after 10 years with 5.5% increase each year
P = 6.00  # Starting wage
r = 0.055  # 5.5% annual increase
t = 10  # Number of years

# Final wage after 10 years
A = P * (1 + r)**t
AThe final wage after 10 years, with a 5.5% increase each year starting from $6.00, is approximately **$10.25**.

Would you like more details or have any further questions about this? Here are some related questions:

1. How would the result change if the annual increase were 4% instead of 5.5%?
2. What would the final wage be if the wage were increased for 15 years instead of 10?
3. How does the compound interest formula work in other real-world scenarios, like savings accounts?
4. Can you calculate the number of years it would take for the wage to double at a 5.5% increase rate?
5. How would the final wage change if the wage started at $5.00 instead of $6.00?

**Tip**: Compound growth leads to exponential increases, meaning small changes in the growth rate can have a big impact over time.

Find the final hourly wage if a $6.00 starting wage is increased by 5.5% each year for 10 years.

Learn how to calculate the final hourly wage after 10 years if a $6.00 starting wage is increased by 5.5% annually. The compound interest formula A = P(1 + r)^t is used to solve the problem, making this a practical example of exponential growth. Suitable for students in Grades 9-12.

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