Personal financial literacy test, lesson 4 unit 7.
Eddie has an salary of $47 300. he works 40 hours a week, 52 weeks a year. How much money does Eddie earn per hour?
A) $22.74
B) $27.15
C) $31.46
D) $48.91
47300/(40*52) = ____
To calculate how much money Eddie earns per hour, we need to divide his annual salary by the total number of hours he works in a year.
First, let's determine the total number of hours Eddie works in a year:
Eddie works 40 hours per week, and there are 52 weeks in a year.
So, the total number of hours Eddie works in a year is: 40 hours/week * 52 weeks/year = 2,080 hours/year.
Next, let's calculate his hourly wage by dividing his annual salary by the total number of hours worked:
Hourly wage = Annual salary / Total number of hours worked
Plugging in the given values:
Hourly wage = $47,300 / 2,080 hours/year
Now let's calculate it:
Hourly wage = $22.74 (rounded to the nearest cent)
Therefore, the correct answer is A) $22.74.