Final answer:
To calculate a yearly wage from a weekly wage, multiply the weekly wage by the number of weeks in a year, which is usually 52. For example, a weekly wage of $500 equates to a yearly wage of $26,000.
Step-by-step explanation:
The formula for calculating a yearly wage from a weekly wage is quite straightforward. To calculate it, you multiply the weekly wage by the number of weeks in a year. Typically, this number is taken to be 52 weeks, accounting for a full year of work without deductions for holidays or vacations. However, for more accurate calculations, you might consider the exact number of workweeks if it's different due to specific work schedules or holidays.
Here's how you might see it in a formulaic form:
Yearly wage = Weekly wage × Number of weeks in a year (usually 52)
To elaborate with an example, if a person earns a weekly wage of $500, their yearly wage would be calculated as follows:
$500 (weekly wage) × 52 (weeks) = $26,000 (yearly wage)
This multiplication gives us the gross annual income before any deductions like taxes or other withholdings. To further illustrate, determining discretionary spending from an annual wage involves subtracting annualized monthly expenses from the annual income.