Question

Monique is deciding which raise to take for her salary: adding $1500 dollars at the end of the year to her salary or adding 1.5% of her current salary. She currently makes $70,000 a year. Which should she choose?

Answer 1

Monique should choose the option of adding $1,500 at the end of the year to her salary, resulting in a higher final salary of $71,500.

Step-by-step explanation:

To determine which raise Monique should choose, we can compare the two options: adding $1,500 at the end of the year or adding 1.5% of her current salary.

Option 1: Adding $1,500 at the end of the year to Monique's salary.

Her current salary is $70,000.

Therefore, her new salary would be $70,000 + $1,500

= $71,500.

Option 2: Adding 1.5% of Monique's current salary.

1.5% of $70,000 is calculated by multiplying $70,000 by 0.015, which equals $1,050.

Her new salary would be $70,000 + $1,050

= $71,050.

Comparing the two options, Monique should choose Option 1 where she adds $1,500 at the end of the year to her salary, resulting in a higher final salary of $71,500.