A typical annual pay of a full-time management position in Fort Worth, Texas, is $121,991. The living hourly wage of 1 adult with 3 children in the area is $53.30. How much higher is the equivalent hourly wage than the living hourly wage? Round the answer to 2 decimal places.(1 point) Responses $5.35 $5.35 $5.87 $5.87 $5.53 $5.53 $58.65
To find the equivalent hourly wage, we divide the annual pay by the number of working hours in a year.
According to the U.S. Bureau of Labor Statistics, a typical full-time worker works about 2,080 hours per year.
So, the equivalent hourly wage is: $121,991 / 2,080 = $58.65.
To find the difference between the equivalent hourly wage ($58.65) and the living hourly wage ($53.30), we subtract the living hourly wage from the equivalent hourly wage.
$58.65 - $53.30 = $5.35.
So, the answer is $5.35.