Each year, Alex gets a raise of 8% plus an additional $100. In 2011, Alex’s annual salary was $47,563.84. (a) What will Alex’s salary be in 2013? (Round your answer to the nearest cent.) (b) What was Alex’s salary in 2009? (c) From the two options below, which deal will give Alex the higher salary after 4 years? • Take the salary scale from part b.
• In January 2010, get a raise of 8%, and in January of 2011, get a raise of 8.15%, and in the next two years, get raises of 8.30% and 8.45%, respectively.