1. Personnel costs for last year were 10% over the $600,000 total for the previous year. This year, there was a 5% drop from last years total, but estimates for next year indicate an additional 10% increase over this year. What is the projected cost for personnel next year?

   1. $627,000

   2. $660,000

   3. $689,000

   4. $693,000

   5. None of the above

3. A company has a schedule of step salary increases. Each step increase is a 10% raise from the previous level. If the salary for a position starts at $13,000 for the first step, what will the salary be at the fourth step?

   1. $14,300

   2. $15,730

   3. $16,900

   4. $17,303

   5. None of the above