Practice!

Sample Problem

Mary received 6,500 dollars of year-end bonus in 2008. In 2009 the year-end bonus increased by 20%. In 2010, the year-end bonus increased by 15% of her year-end bonus in 2009. Find her year-end bonus in 2010.

$.00

Solution

Year-end bonus in 2009: 6,500 × (1 + 20%) = $7,800.00

Thus, year-end bonus in 2010: 7,800 × (1 + 15%) = $8,970.00