Question

Bob's annual salary is $98,300. He has been promised a 4.6% merit rate raise in the year ahead. Find the amount of the raise and the new salary. Show all work and write a complete answer including units.

Answer 1

98,300 x .046= 4,521.80
4,521.80 + 98,300= 102,821.80

The amount of the raise is $4,521.80
The new salary is $102,821.80