Table 3.9 # 3-1 #3-2 # 3-3 3-8. Using Table 3.9, in which Anne Brown's annual salary is listed at the end of 2015 was $50,000 and John Williams' was $35,000. Under a merit pay system, calculate Anne's salary based on a 7 percent annual increase through the year 2020. For John, apply a 3 percent annual increase rate. What are their adjusted salaries for each year? 2015 2016 2017 2018 2019 2020 Anne 2015 2016 2017 2018 2019 2020 Anne's increase is 7% and John's Increase is 3% 2015 2016 2017 2018 2019 2020 Anne's 5% 2,500 2,625 2.756.25 57,881.25 2,894.063 60,775.313 3,038.766 63,814.078 2015 2016 2017 2018 2019 2020 Anne's 50,000 52,500 55,125 50,000 Anne's Assume both have reached their maximum pay rate in 2015, Under the longivity system calculate longevity payments for each through 2020 using a 5% rate for each. Longevity Lump Sum 50,000 50,000 50,000 50,000 50,000 50,000 7% 50,000 John 5% 2,500 John 52,500 35,000 36,750 38,587.5 40,516.875 42.542.719 44,669.855 35,000 5% 1,750 1,837.5 1,929.375 2,025.844 2,127.136 2015 2016 2017 2018 2019 2020 John 3% Page 2 of 2 Prepared By: Under a merit pay system scenario assume the goal is to provide Anne and John with the same annual pay increase measured in dollars. It has been determined that Anne's increase will be 5%. What should the rate for John? What will the annual salaries be at the end of 2020? John 2015 2016 2017 2018. 2019 2020 Longevity 35,000 35,000 35,000 35,000 35,000 35,000 35,000 find the % Lump Sum 7% 37,500