Vbill - How to calculate your new rate?

Overview:

Here is a formula to calculate your new rate. 

Current Rate * (1 + Rate Increase Percentage) = New Rate (Round Up to the Nearest Dollar)

Example:

Current Rate: $52.00

Rate Increase Percentage: 4%

Calculation:

1. $52 * (1+0.04)
2. $52 * (1.04) = $54.08
3. Round to nearest dollar - $54.08 = $55.00
4. New Rate = $55.00