Question

Jill receives a salary raise of 3.5% each year for 8 years. In her 9th year with the contractor she works for, she decides to switch from full-time to 75% time. She receives her 3.5% raise as usual, and her salary will be $61,725.42. What was Jill’s starting salary

Answers

  1. Jill’s starting salary was = 44442.38
    percent raise received by Jill every year = 3.5%
    After 9 years,
    her salary will be = 61725.42
    Increment received by Jill = 3.5 % × 61725.42
    = 3.5 /100 × 61725.42
    = 2160.38
    Increment received by Jill in 8 years = 2160.38 × 8
    = 17283.04
    Starting salary of Jill = 61725.42 – 17283.04
    = 44442.38

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