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.
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 2SSQ
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Question
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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