Andrews annual salary is 93600 He has been promised a 43 mer

Andrew’s annual salary is $93,600. He has been promised a 4.3% merit raise in the year ahead. Find the amount of the raise and the new salary. Show all work.

Solution

given Andrew’s annual salary is $93,600.

He has been promised a 4.3% merit raise

so amount of the raise =(4.3/100)*93600

amount of the raise =4024.8$

new salary =93600+4024.8

new salary =97624.8$