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The Problem

If I continue to meet my performance goals, I will receive a $300 bonus each month. My annual salary is $40,000, so if I meet my goals each month, my total bonus will give me an overall salary increase of what percent?

Answer provided by our tutors

12 months of bonuses:

12 * 300 = 3600

overall salary increase:

(3600 + 40000)/40000 = 1.09

109% salary increase

percentage bonus is of salary:

3600/4000 = 0.09

9% of your overall salary will come from bonuses

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midight of April 18th