Merryweather's union just negotiated a new four-year contract with her employer. The terms of the contract provide
Question:
Merryweather's union just negotiated a new four-year contract with her employer. The terms of the contract provide for an immediate wage increase of 3.3%, followed by annual increases of 3.5%, 4.25%, and 2.75%. If she currently earns $61,500, what will her salary be in the final year of the contract?
Bronco's four-year investment just matured at $26,178.21. If the investment earned semi-annually compounded interest rates of 4.5% and 4.75% in the first two years, followed by monthly compounded interest rates of 5% and 5.1% in the last two years, how much money did Bronco initially invest?
Jay's Pharmacy owes the same creditor two debts of $6,000 due one year ago and $7,500 due in two years. Jay has proposed making two alternative payments of $10,000 due in three months and a final payment in 2 years. If the creditor is agreeable to this proposal and wants an interest rate of 9% compounded quarterly, what is the amount of the final payment?