Question

If a woman making $29,000 a year receives a cost-of-living increase of 2.6%, what will her new salary be?

Answer 1

SOLUTION

Her yearly salary is $29,000. With a cost of living increased by 2.6%, this means her salary should be inreased by

$\begin{gathered} \frac{2.6}{100}\times29,000 \\ 2.6\times290 \\ =754 \end{gathered}$

So her new salary should be

$\begin{gathered} 29,000+754 \\ =29,754 \end{gathered}$

Hence the answer is $29,754