To calculate the percentage increase in Matthew's salary due to the $3,200 raise, you can use the following formula:
Percentage Increase = (Increase Amount / Old Salary) * 100
In this case, the increase amount is $3,200, and the old salary was $120,000. Plug these values into the formula:
Percentage Increase = ($3,200 / $120,000) * 100
Percentage Increase = (0.02667) * 100
Percentage Increase ≈ 2.67%
So, Matthew's old salary was approximately 2.67% of $120,000.