First we need to find out what is five percent of eight.
To do that let's start by turn five percent into a fraction of five over one hundred. Then we'll multiply that by eight over one. First multiply the numerators...
5 * 8 = 40
Now multiply the denominators...
100 * 1 = 100
So, now that everything is multiplied, we have our new fraction that is forty over one hundred. Now let's convert the fraction forty over one hundred into a decimal that is 0.40. Next, we'll convert 0.40 into the value of money...
0.40 = $0.40
Now, this means that the five percent raise will be forty cents. The last an final step is to add the raise to Shermillies current hourly pay.
$8.00 + $0.40 = $8.40
So, this means that Shermillies new hourly pay is $8.40.
