Question: Lets assume that both employees have reached the maximum pay rates for their jobs, as reflected in the pay they received in 2016. Under a

Let’s assume that both employees have reached the maximum pay rates for their jobs, as reflected in the pay they received in 2016. Under a longevity pay system, calculate the annual longevity payments for each employee through the year 2020. Using a 5 percent rate for each, what will the annual increases amount to? What will their base pay rates be at the end of 2020?

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