Phoebe is concerned that it the error is not fixed, her pay increase wll be less in future
years than it is supposed to be. If Phoebe continues
to work al the company and receives.
an increase of $0.75 per hour instead of a 5% increase. what will be the difference in her
hourly pay in 5 years? Show vour work.

Respuesta :

The difference in the pay rate of Phoebe in 5 years will be $11850

How to calculate the pay?

Your information is incomplete. Therefore, an overview will be given. Let's assume that the pay rate is $20000. When there is a 5% increase, the new pay rate will be:

= $20000 + (5% × $20000)

= $20000 + $1000

= $21000

When there is $0.75 increase per hour, the new pay rate on 5 years will be:

= (0.75 × 43800)

= $32850

The difference will be:

= $32850 - $21000

= $11850

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