21. Joshua Vernier received a raise after his first year on the job to $43,800 from his initial salary of $42,000. (3 pts) a. What was his raise stated as a percentage? b. Inflation averaged 2.8% for the year. What was his real income after the raise? was his real raise stated as a percentage? _ 7. Harry and his wife Belinda have discussed starting a family but have decided to wait for perhaps 5 years in order to get their careers off to a good start and organize their personal finances. They also know that having children is expensive. They figure that the extra expense of a child would be about $5,000 annually until high school graduation. How much money will they likely cumulatively spend on a child over 18 years assuming a 2% inflation rate? (1 pt)