Say that the economy is in an expansion, causing wages to increase by six percent. If you previously received a monthly salary of $1,375.00, what will your new monthly salary be? Round all dollar values to the nearest cent.

A 6% increase means adding 6% of the original salary to the original amount. Six percent of $1,375.00 is $1,375.00 × 0.06 = $82.50, so the new salary is $1,375.00 + $82.50 = $1,457.50. The correct choice is $1,457.50.

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