What rate her income must grow annually

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Efficiency of labor (h), a measure of human capital, increases with education. With greater efficiency, earning opportunity increases. Suppose a person with high school degree starts a job at MacDonald for $16,640 annual salary. If she has to earn an annual income of $30,000 in 4 years, at what rate her income must grow annually? Please use the exponential growth formula

Reference no: EM13774081

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