Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $45,400 from his initial salary of $42,200. What was Joshua’s raise stated as a percentage? Inflation averaged 3 percent for the year. Round your answer to one decimal place. % What was his real income after the raise? Round your answer to nearest dollar. $ What was his real raise stated as a percentage? Round your answer to one decimal place.
Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $45,400 from his initial salary of $42,200. What was Joshua’s raise stated as a percentage? Inflation averaged 3 percent for the year. Round your answer to one decimal place. % What was his real income after the raise? Round your answer to nearest dollar. $ What was his real raise stated as a percentage? Round your answer to one decimal place.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $45,400 from his initial salary of $42,200. What was Joshua’s raise stated as a percentage? Inflation averaged 3 percent for the year. Round your answer to one decimal place.
%
What was his real income after the raise? Round your answer to nearest dollar.
$
What was his real raise stated as a percentage? Round your answer to one decimal place.
%
Expert Solution
Step 1
Given information:
Initial salary is $42,200
Salary rise after first year to $45,400
Inflation average is 3%
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