Answered: Consider the raise (in dollars) that an…

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter5: Corporate Ethical Governance & Accountabililty

Section: Chapter Questions

Problem 2.5EC

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Consider the raise (in dollars) that an employee making $21,000 would receive.

Estimate the raise by completing the following sentences.

If an employee made half of $28,000, or $14,000, they would receive a raise that is half $1,000. Therefore, since $21,000 is between $14,000 and $28,000 , the employee making $21,000 would receive a raise that is betwen $500 and $1,000.

What fraction of $28,000 is $21,000?

B. Consider the raise (in dollars) that an employee making $35,000 would receive.

Estimate the raise by completing the following sentences.

If an employee made one and a half times $28,000, or $42,000, they would receive a raise that is one and a half times $1,000. Therefore, since $35,000 is between $28,000 and $42,000, the employee making $35,000 would receive a raise that is between $1,000 and $1,500.

What fraction of $28,000 is $35,000?

Determine the actual raise (in dollars).

C. Consider the raise (in dollars) that an employee making $27,050 would receive.

The salary of $27,050 can be reasonably rounded to which of the following values? (Hint: To which value is $27,050 closest?) It is 28,000

Estimate the raise (in dollars) based on the appropriate rounded value.

Determine the actual raise (in dollars). (Round your answer to the nearest cent.)

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