say that the economy is in an expansion, causing wages to increase by six percent. if you previously received a monthly salary of $1,375.00, what will your new monthly salary be? round all dollar values to the nearest cent.
a. $2,365.00
b. $1,604.17
c. $1,462.77
d. $1,457.50

Question

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [], "new_concepts": [ "Percentage Increase", "Salary Calculation" ], "current_concepts": [ "Percentage Increase", "Salary Calculation" ] } ## Identify the given values and target $$ \begin{aligned} &\text{Previous Salary } (P) = \$1,375.00 \ &\text{Percentage Increase } (r) = 6\% = 0.06 \ &\text{New Salary } (S) = \text{Target} \end{aligned} $$ ## Calculate the salary increase $$ \begin{aligned} \text{Increase} &= P \times r \ &= 1375.00 \times 0.06 \ &= 82.50 \end{aligned} $$ ## Calculate the new monthly salary $$ \begin{aligned} S &= P + \text{Increase} \ &= 1375.00 + 82.50 \ &= 1457.50 \end{aligned} $$

a. $2,365.00

b. $1,604.17

c. $1,462.77

d. $1,457.50

{ "subject": "Mathematics", "question_type": "Multiple Choice", "knowledge_point": [ "Mathematics", "Algebra", "Percentage Increase" ] }

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Question

Explanation:

Identify the given values and target

Calculate the salary increase

Calculate the new monthly salary

Answer: