if a person earn 23,600 one year and get a 5% raise in salary what is the new salary?
new salary= 23600(1+.05)
To calculate the new salary after a 5% raise, you need to add the raise amount to the original salary. Here's how you can do it:
Step 1: Calculate the raise amount
Raise amount = (Original salary × Raise percentage)
Raise amount = (23,600 × 0.05)
Raise amount = 1,180
Step 2: Calculate the new salary
New salary = Original salary + Raise amount
New salary = 23,600 + 1,180
New salary = 24,780
Therefore, the new salary after a 5% raise would be $24,780.