Question

Last year, Baldwin Corp paid their workers $26.81 per hour. How much will they be paying them 2 rounds from then?

Answer 1

Answer: $29.56

Explanation:

It is shown from Baldwin's statement that they increase the salaries of workers by 5% every year.

In 2 rounds/years therefore, the salary will be;

= 26.81 * (1 + 5%) ²

= 26.81 * 1.05²

= 29.558025‬

= $29.56