The annual pay of a full time position is $121,991. the living hourly wage of 1 adult in the area is $53.30. How much higher is the aquivalent hourly wage than the living hourly wage? Found the answer to 2 decimal places.
a) $5.53
b) $5.35
c) $58.65
d) $5.87
To find the equivalent hourly wage, we divide the annual pay by the number of working hours in a year. Assuming a typical full-time position works 40 hours per week for 52 weeks in a year:
Equivalent hourly wage = annual pay / (hours per week * weeks per year)
Equivalent hourly wage = 121991 / (40 * 52)
Equivalent hourly wage ≈ $58.65
The equivalent hourly wage is approximately $58.65.
Therefore, the answer is c) $58.65