Question

A lawyer out of law school can expect to make $US142,970 per year in the US. Assuming that lawyers work 40 hours per week and 52 weeks per year, what is the equivalent salary in Canadian dollars per hour?

Country Currency US Equivalent Currency per US$1
Canada Canadian Dollar (CAD$) 0.80147 1.24772

Answer 1

The equivalent salary in Canadian dollars per hour is 85.76 CAD/hour.

Explanation:

First, we can calculate how much is the salary in US dollars per hour.

If it is assumed 40 hours a week and 52 weeks a year of work, we have 40*52 = 2,080 work hours/year.

With this number we can calculate the salary in US dollars per hour.

`S=(Income \, per \, year)/(anual \, work \, hours) =(142,970\,USD/year)/(2,080 \, hours/year)= 68.73 \,USD/hour`

If we use the currency rate, we have

`S=68.73\,(USD)/(hour)*(1.24772\, CAD)/(1\,USD) = 85.76\,(CAD)/(hour)`