When David started his first job, he earned $15 per hour and was promised an annual increment
Question:
When David started his first job, he earned $15 per hour and was promised an annual increment (compounded) of 3.5%.
a. What is his hourly rate be in his 5th year?
After 5 years he was promoted. His hourly wage increased to $26 per hour, with the same compounded annual increment.
b. For how many more years will he need to work before his hourly rate reaches $30 per hour?
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Related Book For
Cambridge IGCSE And O Level Additional Mathematics
ISBN: 9781510421646
1st Edition
Authors: Val Hanrahan, Jeanette Powell
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