An employee currently earning $13.85 per hour has been awarded a 3.5 percent merit raise. what will the employee's hourly salary be with this increase?
13.85 * 1.035 = ?
14.33
To find the employee's hourly salary with the 3.5 percent merit raise, you need to increase the current salary by 3.5 percent.
Here's how you can calculate it:
Step 1: Convert the percentage to a decimal by dividing it by 100.
3.5% = 3.5/100 = 0.035
Step 2: Multiply the current salary by the decimal.
New Salary = Current Salary * (1 + 0.035)
Let's do the calculations:
New Salary = $13.85 * (1 + 0.035)
New Salary = $13.85 * 1.035
The employee's hourly salary with the 3.5 percent merit raise will be $14.35 per hour.