Posted by **Stephanie** on Sunday, May 27, 2007 at 12:00am.

Jerry earned $18,500 one year and then recieved a 10.5% raise. What is his new yearly salary?

would this be the correct way to set this up and the correct answer?

$18500*10.5=$20442.50

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...

2 ways:

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

Matt

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