150k views
3 votes
many us employees received a 5% raise in 2022. Suppose an employee made $54,000 in 2021 and received a 5% raise. What did he make in 2022? Show two different ways to answer the question.

User Newaj
by
8.0k points

1 Answer

1 vote

--------------There are 2 methods--------------

Method 1:

To calculate the 5% raise for the employee, we can multiply their 2021 salary by 0.05 and add the result to their 2021 salary:

5% of $54,000 = 0.05 x $54,000 = $2,700

So, the employee received a raise of $2,700.

To find their salary in 2022, we can add their raise to their 2021 salary:

Salary in 2022 = $54,000 + $2,700 = $56,700

Therefore, the employee made $56,700 in 2022.

Method 2:

We can also calculate the employee's salary in 2022 using the following formula:

Salary in 2022 = Salary in 2021 x (1 + % raise as a decimal)

Using this formula, we can plug in the values given in the problem:

Salary in 2022 = $54,000 x (1 + 0.05) = $54,000 x 1.05 = $56,700

Again, we get the same answer of $56,700 for the employee's salary in 2022.

User Rumit Patel
by
8.1k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories