Question

A pro athlete is offered an eight year contract with a starting salary of $400,000. She will receive an increase of 5% each year. How much will the athlete make, in thousands, during the first year?

Answer 1

Answer:

1) $400

2) 0.05

3) A, C

explanation:

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Answer 2

The pro athlete is going to make $420,000 during the first year.

What is percentage?

"It is the ratio of a number expressed in the fraction of a hundred."

According to the given problem:

Starting salary in one year = $400,000

She will receive an increase of 5% each year.

5% of original amount would be,

= 400,000 × 5%

= $(400,000 × 0.05)

= $20,000

The amount when increased by 5% would be,

= $( 400,000 + 20,000)

= $420,000

Hence, we can conclude that the athlete is going to make $420,000 after an increase of 5%.

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