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

i believe the answer would be 34,410

Answer 2

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} (2.6)/(100)*29,000 \\ 2.6*290 \\ =754 \end{gathered}`

So her new salary should be

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

Hence the answer is $29,754