To calculate Jack's new salary, we need to consider the initial salary, the cost-of-living increase, and the merit bonus.
Let's assume Jack's initial salary is $X.
First, we calculate the cost-of-living increase by multiplying the initial salary by 3%:
Cost-of-living increase = $X * 3% = $0.03X
Next, we calculate the merit bonus by multiplying the initial salary by 10%:
Merit bonus = $X * 10% = $0.1X
To find Jack's new salary, we add the initial salary, the cost-of-living increase, and the merit bonus:
New salary = Initial salary + Cost-of-living increase + Merit bonus
New salary = $X + $0.03X + $0.1X
New salary = $X(1 + 0.03 + 0.1)
New salary = $X * 1.13
Therefore, Jack's new salary is 1.13 times his initial salary
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