the mean annual salary for employees at a company is 36,000. at the end of the year, each employee receives a 1,000 bonus and a 5% raise( based on salary)what is the new annula sala
38800
To calculate the new annual salary after the bonus and raise, we need to add the bonus amount and the raise amount to the mean annual salary.
Step 1: Calculate the bonus amount:
Each employee receives a $1,000 bonus.
Step 2: Calculate the raise amount:
The raise is 5% of the mean annual salary. To find the raise amount, we multiply the mean annual salary by 5%: 36,000 * 0.05 = $1,800.
Step 3: Add the bonus and raise amounts to the mean annual salary:
New annual salary = Mean annual salary + Bonus + Raise
New annual salary = $36,000 + $1,000 + $1,800 = $38,800.
Therefore, the new annual salary for employees at the company is $38,800.
To find the new annual salary after the bonus and raise, we'll first calculate the raise amount, then add the bonus and raise to the original annual salary.
Step 1: Calculate the raise amount:
We know that the raise is 5% of the original salary, which is $36,000. To find the raise amount, we multiply 5% by $36,000:
Raise amount = 5% of $36,000 = (5/100) * $36,000 = $1,800
Step 2: Add the bonus and raise to the original annual salary:
Original annual salary = $36,000
Bonus = $1,000
Raise amount = $1,800
New annual salary = Original annual salary + Bonus + Raise amount
New annual salary = $36,000 + $1,000 + $1,800
New annual salary = $38,800
Therefore, the new annual salary for employees after receiving a $1,000 bonus and a 5% raise is $38,800.
If you are still talking about the mean annual salary, it depends on whether the bonus or the raise comes first.
1.05(36,000 + 1000) = ? Bonus first
1.05(36,000) + 1000 = ? Raise first