Question

You have performed increasingly well this past year and you are earning a 6% pay increase to your current $62,900 annual salary."

Answer 1

To calculate a new salary after a pay increase, multiply the current salary by the percentage increase and add it to the original salary. In this case, a 6% increase on a $62,900 salary results in a new annual salary of $66,674.

Step-by-step explanation:

The subject of this question is determining the new salary after a pay increase, which is a common problem in mathematics related to percentages. To calculate the new salary after a 6% pay increase to a current salary of $62,900, you multiply the current salary by the percentage increase in decimal form, which is 0.06.

Step-by-Step Calculation

Determine the increase amount by multiplying the current salary by the percentage increase: $62,900 × 0.06 = $3,774.

Add the increase to the current salary to get the new salary: $62,900 + $3,774 = $66,674.

The new annual salary after a 6% increase will therefore be $66,674.

To generalize, the formula to calculate the percentage change or growth rate is given by:

Percentage change = (Change in quantity / Original Quantity) × 100

For example, a $2 per hour raise on a $10 per hour job represents

Percentage change = ($2 / $10) × 100 = 20%

Answer 2

Answer: $ 64787

Step-by-step explanation:

1% of 62900 = 629

6% = 629 x 6 = 1887

total = 62900 + 1887 = $ 64787

Hope this helps :)