Answer:
The new salary of that person (for the period of a year) would be [tex]\$ 16,\!275[/tex].
Step-by-step explanation:
Start by considering: what is the exact value (in dollars) of that "[tex]5\%[/tex] raise in salary"?
[tex]5\%[/tex] (five percent) is equal to [tex]\displaystyle \frac{5}{100}[/tex].
To find the value of [tex]5\%[/tex] of [tex]\$15,\!500[/tex], simply multiply [tex]\$15,\!500[/tex] by [tex]5\%[/tex]:
[tex]\begin{aligned}&5\% \times \$15,\!500\\ &= \frac{5}{100} \times \$15,\!500 \\ &= 5\times \$155 = \$775 \end{aligned}[/tex].
Add that to the original (one-year) salary of this person to find the new one-year salary:
[tex]\$15,\!500 + \$775 = \$16,\!275[/tex].
