Question

Carol's starting pay for her summer job is $10.25 per hour. Carol earns exactly 3 raises this summer.

For the first raise, she receives a 50 cent-per-hour raise.

For the second raise, she receives a 10% raise per hour.

For the third rise, she receives another 50 cent-per-hour raise.

Carol is told that she can have the same job next summer. She will be given a 5%raise per hour based on her pay at the end of this summer. How much money will Carol earn per hour for this job at the start of next summer? Show or explain your work.

Answer 1

She starts off with $10.25 and gets a raise of $0.50, so she earns $10.75 per hour. Then she gets a raise of 10%, so then 10.75 x 0.10 = 1.075, so she earns $11.825 per hour. Then her third raise is $0.50 so she earns $12.325 per hour. The raise for next summer is 5%, so 12.325 x 0.05 = 0.61625, so she earns $12.94125.
She will earn about $12.94 per hour starting off next summer.