Question

A university​ president's salary for the​ 2012-2013 academic year was ​$490,000. Calculate his​ 2013-2014 salary if he received a 2.7% raise

Answer 1

His 2013-2014 salary will be $503,230

Explanation:

His new salary will be

490,000 + 2.7% of 490,000

= 490,000 + (2.7/100 * 490,000)

= 490,000 + 13,230

= $503,230