A new employee is paid $22.50 an hour. A performance evaluation is completed at the end of the year, and it is determined that the employee should receive a 2.5% raise. What will be the new hourly rate?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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A new employee is paid $22.50 an hour. A performance evaluation is completed at the end of the year, and it is determined that the employee should receive a 2.5% raise. What will be the new hourly rate?

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