First, work out what the budget was for this year.
Residents = 30 residents x $55,000
Residents
= $1,650,000
General physicians = 36 x $80,000
General physicians
= $2,880,000
Specialist physicians = 34 x $100,000
Specialist physicians
= $3,400,000
Total = $7,930,000
Residents' increase = $55,000
x 0.10
Residents' increase = $5,500
New residents total =
($55,000 + $5,500) x 30
New residents total = $60,500 x 30
New
residents total = $1,815,000
General physicians' increase
= $80,000 x 0.025
General physicians' increase = $2,000
New
GP total = ($80,000 + $2,000) x 36
New GP total = $82,000 x 36
New
GP total = $2,952,000
Specialist physicians' increase = $100,000
x 0.03
Specialist physicians' increase = $3,000
New specialist
total = ($100,000 + $3,000) x 34
New specialist total = $103,000 x 34
New
specialist total = $3,502,000
Grand total = $1,815,000 + $2,952,000
+ $3,502,000
Grand total = $8,269,000
$8,269,000
- $7,930,000 = $339,000
$339,000 / $7,930,000 x 100 = 4.2 percent increase
Next
year, your budget will increase by $339,000, or 4.2 percent.