posted by Stephanie on .
Jerry earned $18,500 one year and then received a 10.5% raise. What is his new yearly salary?
would this be the correct way to set this up and the correct answer?
You got the correct answer, but didn't type the correct equation. Which tells me you did it correctly, but didn't type it correctly here. So just to clarify...
10.5% is .105 so...
18500 * .105 = 1942.50
18500 + 1942.50 = 20442.50
The second way is easier for me. Take the .105 and add a 1 to it then multiply.
18,500 * 1.105 = 20,442.50