You have the following wage progression scale HOUSEKEEPER    START                6 MOS                  1 YEAR                  2 YEARS                3 YEARS 3-1-21               9.00                  9.50                       10.00                     10.50                 11.00   3-1-22              9.50                   10.00                      10.50                    11.00                11.50  3-1-23          10.00                  10.50                        11.00                       11.50               12.00 LABORER                                    START                6 MOS                  1 YEAR                  2 YEARS                3 YEARS 3-1-21               9.50                 10.00                       10.50                    11.00                 11.50   3-1-22             10.00                 10.50                      11.00                   11.50                12.00  3-1-23             10.50                 11.00                       11.50      `              12.00                 12.50 MAINTENANCE HELPER    START                 6 MOS                  1 YEAR                  2 YEARS                3 YEARS 3-1-21              10.00                 10.50                      11.00                   11.50                 12.00   3-1-22             10.50                 11.00                      11.50                    12.00                12.50  3-1-23          11.00                  11.50                        12.00                       12.50             13.00 Employees are paid according to length of service with the company and classification on a calendar year basis without deduction for time off or proration.  Joe is hired as a Housekeeper on 4-1-21 and is promoted to Laborer on 7-1-22 and to Maintenance Helper on 10-1-23.  State the rate at hire and the wage changes and the dates thereof.   (Note:  There may or may not be six rate changes.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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  1. You have the following wage progression scale

HOUSEKEEPER

   START                6 MOS                  1 YEAR                  2 YEARS                3 YEARS

3-1-21               9.00                  9.50                       10.00                     10.50                 11.00  

3-1-22              9.50                   10.00                      10.50                    11.00                11.50

 3-1-23          10.00                  10.50                        11.00                       11.50               12.00

LABORER

                                   START                6 MOS                  1 YEAR                  2 YEARS                3 YEARS

3-1-21               9.50                 10.00                       10.50                    11.00                 11.50 

 3-1-22             10.00                 10.50                      11.00                   11.50                12.00

 3-1-23             10.50                 11.00                       11.50      `              12.00                 12.50

MAINTENANCE HELPER

   START                 6 MOS                  1 YEAR                  2 YEARS                3 YEARS

3-1-21              10.00                 10.50                      11.00                   11.50                 12.00  

3-1-22             10.50                 11.00                      11.50                    12.00                12.50

 3-1-23          11.00                  11.50                        12.00                       12.50             13.00

Employees are paid according to length of service with the company and classification on a calendar year basis without deduction for time off or proration.  Joe is hired as a Housekeeper on 4-1-21 and is promoted to Laborer on 7-1-22 and to Maintenance Helper on 10-1-23.  State the rate at hire and the wage changes and the dates thereof.   (Note:  There may or may not be six rate changes.)

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