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Under a merit pay system, calculate Anna Brown’s salary is listed at the end of 2015...

Under a merit pay system, calculate Anna Brown’s salary is listed at the end of 2015 was $50,000 and John Williams’ was $35,000

9. let assume that both employees have reached the maximum pay rate for their jobs in 2015. Under a longevity pay system, calculate the annual longevity payment for each employee through the year 2020. Using a 5 percent rate for each, what will the annual increases amount to? What will their base pay rate be at the end of 2020?

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Calcualtion of Longevity payment for each employee with 5% increase

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