The mean annual salary for employees at a company is ​$39,000. At the end of the​ year, each employee receives a ​$1000 bonus and a 5​% raise​ (based on​ salary). What is the new mean annual salary​ (including the bonus and​ raise) for the​ employees?

Question
Asked Oct 26, 2019
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The mean annual salary for employees at a company is ​$39,000. At the end of the​ year, each employee receives a ​$1000 bonus and a 5​% raise​ (based on​ salary). What is the new mean annual salary​ (including the bonus and​ raise) for the​ employees?

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Expert Answer

Step 1

Compute 5% raise on salary as shown below:

Raise on salary = Annual salary x Rai se
-S39,000x5%
=S1,950
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Raise on salary = Annual salary x Rai se -S39,000x5% =S1,950

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Step 2

Compute new mean annual salary including bonus ...

New annual sal ary Annual salary+Bonus+Rai se in salary
-S39,000+S1,000+S1,950
=S41,950
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New annual sal ary Annual salary+Bonus+Rai se in salary -S39,000+S1,000+S1,950 =S41,950

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