Evelyn is getting a promotion at her company, which comes with a pay raise of 7.5 percent. If she currently makes $58,300 per year, how much will she make each year after the raise? Round your answer to the nearest hundred.
58300*(1.075) = ?
62450
62400
To calculate Evelyn's new salary after the pay raise, you need to find 7.5% of her current salary and add that amount to her current salary.
Step 1: Convert the percentage to a decimal.
7.5% = 0.075 (move the decimal point two places to the left)
Step 2: Calculate the raise amount.
Raise = 0.075 * $58,300
Step 3: Add the raise amount to Evelyn's current salary.
New Salary = $58,300 + Raise
Let's now calculate the raise amount and Evelyn's new salary.
Raise = 0.075 * $58,300 = $4,372.50
New Salary = $58,300 + $4,372.50 = $62,672.50
Rounded to the nearest hundred, Evelyn will make $62,700 per year after the raise.