Toms's union has secured a four$-$year wage contract that stipulates a $3\mathrm{.}0\%$ increase indexed to inflation. The anticippated rates of inflation are $1\mathrm{.}5\%,2\mathrm{.}0\%,2\mathrm{.}5\%,$ and $3\mathrm{.}0\%$ for each respective year. How will Tom's wage increase be articulated in the new contract?  

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In the new wage contract secured by Toms union the wage increase is stipulated to be 3... View the full answer