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# March 4 Pay Raise

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### March 4 Pay Raise

1. 1. Pay Raise
2. 2. Salary is a set amount of money you get paid for a set period of time. i.e. \$500 per week, \$50000 per year.
3. 3. People paid by salary usually get raises in pay based on a percent. They might get an increase of 1% or 100% or anything in between
4. 4. Example Joan makes \$1000 per month. She is to receive a 8% increase in pay. What is her new salary? Solution 8% = .08 raise in dollars 1000 * .08 = 80 so her new salary is 1000+80 = \$1080 per month
5. 5. Example 2 Steve is paid \$45000 per year. He did an awesome job this year and is receiving a 15% raise next year. What will his salary be next year? Solution 15% = .15 45000 * .15 = 6750 45000 + 6750 = \$51750 new salary
6. 6. Do some yourself Assignment 7 Questions 1-7