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? (1 point) Responses $30,000/year $30,000/year $15.00/hour $15.00/hour $30,000/year with a 10% bonus $30,000/year with a 10% bonus $15.00/hour and a $2,000 bonus at the end of the year $15.00/hour and a $2,000 bonus at the end of the year
To determine which situation will earn the most, we need to calculate the total earnings for each option.
Option 1: $30,000/year
Total earnings = $30,000/year
Option 2: $15.00/hour
Hourly wage = $15.00/hour
Number of hours worked in a week = 40 hours
Number of weeks worked in a year = 50 weeks
Total earnings = Hourly wage * Number of hours worked in a week * Number of weeks worked in a year = $15.00/hour * 40 hours/week * 50 weeks = $30,000/year
Option 3: $30,000/year with a 10% bonus
Total earnings = $30,000/year + 10% of $30,000/year = $30,000/year + $3,000/year = $33,000/year
Option 4: $15.00/hour and a $2,000 bonus at the end of the year
Total earnings = $15.00/hour * 40 hours/week * 50 weeks + $2,000 = $30,000/year + $2,000 = $32,000/year
Comparing the total earnings, we find that:
- Option 1: $30,000/year
- Option 2: $30,000/year
- Option 3: $33,000/year
- Option 4: $32,000/year
Thus, Option 3 ($30,000/year with a 10% bonus) will earn the most.