Question

Terry earns a salary of $36,000 per year. He is paid once per month. He receives a 2.5% pay raise.
How much more money is Terry earning each month?
$25
$75
$90

Answer 1

Answer: $75

Step-by-step explanation:

Since Terry is paid once a month and earns $36000 in a year,

a year = 12 months

To get the amount he is paid in a month we simply divide the $36000 by 12

$36000 / 12 = $3000

In a month he is paid $3000

Now to get the pay raise;

since the pay raise is 2.5 %, we will find 2.5% of $3000

2.5/100 × $3000 = 2.5 × $30 =$75

There Terry receive an increase of $75 in a month