Step-by-step explanation:
His raise is 3% of 89.000
.03*89.000=$2.670
His new salary is ( to get the number you need to add 89.000+2.670={$91.67})
Tait's raise in the coming year will be $2,670
Question meant to say that the inflation is 3%.
Inflation refers to the general rise in the price of goods and services in a country. It therefore makes a currency weaker because that currency will only be able to buy less than it could before.
The raise will have to be 3% as well to ensure that inflation does not affect Tait
The raise is based on his salary so can be found by:
= Amount Tait earns x Inflation rate
= 89,000 x 3%
= $2,670
In conclusion, the raise is $2,670
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