You work 40 hours/week for 50 weeks and are given the option to be paid hourly or to go on salary. In which situation will you earn the most?
A)$30,000/year
OR
B)$16.00/hour
To determine which option will earn the most, we need to calculate the total earnings for each option.
Option A: $30,000 per year for 50 weeks of work is $600 per week. If we assume a standard 40-hour workweek, this means you would earn $15 per hour ($600/40 hours).
Option B: Working at an hourly rate of $16 per hour for 40 hours per week over 50 weeks would yield a total of $32,000 (40 hours/week x $16/hour x 50 weeks = $32,000).
Therefore, in this scenario, Option B ($16.00/hour) would earn the most at $32,000 for the year.