Answer:
Part A) The percentage increase was [tex]6.1\%[/tex]
Part B) Michael is financially better off this year than last year
Step-by-step explanation:
Part A)
we know that
Using proportion
Let
x-----> the percentage increase
[tex]\frac{100\%}{33,000}=\frac{x\%}{35,000-33,000}\\ \\x=2,000*100\%/33,000\\ \\x=6.1\%[/tex]
Part B) Compare the percentage increase with the inflation
[tex]6.1\%>5\%[/tex]
The percentage increase is greater than the inflation
therefore
Michael is financially better off this year than last year
