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.

Answer 1

Answer:

Your new monthly salary would be $1,457.50.

Step-by-step explanation:

You previously 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

= $\frac{6}{100}$ × 1,375

= 0.06 × 1,375 = $82.50

So your new monthly salary would be = $1,375.00 + $82.50 = $1,457.50