formulas

6. Analyze the scenario:
Employee's hire date: 4/10/2017
Current hourly rate: $15.00 per hour
Merit increase for full year of service: 3.5%
Current date: 1/1/2018

1. What pro-rated merit increase percentage is this employee eligible to receive as of 1/1/2018?
2. What is the new hourly rate of pay?
3. Write the Excel function to show how to calculate this.

Is this a trick question?  Since she wouldn't get an increase in salary until 1 year is over which would be 4/10/2018?  Would I use yearfrac to figure this out?