Richard earns $2700 a month. He received a 3% raise. What is Richard's new annual salary? Remember 12 months in 1 year
$2,700 per month * 12 months = 32,400 per year.
A 3% raise means the new salary is:
32,400 * 1.03 = $33,372
$2,700 per month * 12 months = 32,400 per year.
A 3% raise means the new salary is:
32,400 * 1.03 = $33,372