Question:

# Suppose a certain company gave raises of 3% each year for

Last updated: 7/19/2022

Suppose a certain company gave raises of 3% each year for three years followed by raises of 5% for the next two years. a. If an employee has an annual salary of $52,500 after those 5 raises, what was their starting salary? Show a formula or some calculations and explain in words what you are doing. The anual Salary after 5 years = x dollars.1.051.030. b. What was their 'average annual growth' over those 5 years? In other words, if they had the same percentage raise each year, but had the same increase over the 5-year span, what would that constant 1 percentage raise be?