Answer:
$17,535
Step-by-step explanation:
Original (old) salary: $16,700/year
+ raise: 0.05($16,700/year) = $835/year
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New salary: Original salary plus amount of raise:
$16,700/year + $835/year = $17,535
A faster but still valid approach to finding the new salary involves multiplying the original salary by 1.05:
1.05($16,700) = $17,535. Here the '1.00' represents the original salary and the '0.05) the raise.
