Answer:
In order to keep up with rising cost carpenter needs to increase his $30.00 per hour rate to 35.40 $.
Explanation:
To keep up with rising cost a carpenter needs to increase his $30.00 per hour rate by 18%.
So hour rate of carpenter = 30.00 $
Rate of increase = 18 % = 0.18
New hour rate = Initial hour rate + Rate of increase x Initial hour rate
= 30 + 0.18 x 30 = 30 + 5.4 = 35.40 $
So in order to keep up with rising cost carpenter needs to increase his $30.00 per hour rate to 35.40 $.
