A professional basketball player just signed a contract that has a 10% raise in base salary from last year to this year. The contract also has provisions for a performance bonus of up to $10,000. If he earns the maximum performance bonus, his new effective salary will be a 10.5% raise over last year's total salary, when he received no performance bonus. Assuming he earns the full performance bonus, what will be his new salary? Choose the correct choice from the following choices.
A) 2,010,000 B) 2,110,000 C) 2,150,000 D) 2,200,000 E) 2,210,000
let x=old salary   then (1+.10)*x+10,000 = (1+.105)*x   i.e. new base salary +10,000 = effective new salary   thus 1.1*x + 10,000 = 1.105*x   10,000 = .005*x   2,000,000 = x   thus the new effective salary is 1.105*2,000,000 = 2,210,000   2,210,000
<result>E</result>
A professional basketball player just signed a contract that has a 10% raise in base salary from last year to this year. The contract also has provisions for a performance bonus of up to $10,000. If he earns the maximum performance bonus, his new effective salary will be a 10.5% raise over last year's total salary, when he received no performance bonus. Assuming he earns the full performance bonus, what will be his new salary?