Exercise 4.7.12. [S] [C][Section 4.2][Goal 4.2][(Goal 4.4] Firefighters' pay. On June 10, 2010 The Boston Globe reported that in the five years between 2006 and 2011 Boston firefighters received...

Extracted text: Exercise 4.7.12. [S] [C][Section 4.2][Goal 4.2][(Goal 4.4] Firefighters' pay. On June 10, 2010 The Boston Globe reported that in the five years between 2006 and 2011 Boston firefighters received raises of 2%, 2.5%, 3%, 3.5%, 2.5% and 1.5%. (a) Explain why the overall raise for this five year period is not just the sum of the six percentage increases. What was the firefighters' overall raise for the five year period? (c) Wh at was the firefighters' overall raise when you take inflation into account? [See the back of the book for a hint.] Coal 4 21Goal 4.4] A raise tied to the inflation rate. 1 tn "10% over the rate of inflation":