Question

Say that the economy is in an expansion, causing wages to increase by six percent. if you previously received a monthly salary of $1,375.00, what will your new monthly salary be? round all dollar values to the nearest cent. a. $2,365.00 b. $1,604.17 c. $1,462.77 d. $1,457.50 please select the best answer from the choices provided a b c d

Answer 1

The new monthly salary will be $1,457.50.

You received a monthly salary of $1,375.00

Now by economy expansion, causing wages to increase by = 6%

Increment of the salary = 6% of 1,375.00

$= \frac{6}{100} \times 1,375$

$= 0.06 \times 1,375 =\ 82.50$

What is the monthly salary?

Monthly Salary means Employee's monthly salary, before deductions.

Therefore our new monthly salary would be

$= 1,375.00 + 82.50\\ = 1,457.50$

Therefore our new monthly salary will be $1457.50.

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