Final answer:
Comparing Job A with an hourly rate of $9.95 and Job B with an annual salary of $17,500, Job A pays better with an annual income of $20,664. Higher education often leads to higher earning potential, as seen with the example of a financial consultant position paying $43,000 annually.
Step-by-step explanation:
Comparing Annual Salaries
To determine which job pays better, we calculate the annual salary for each job. Job A pays $9.95 per hour, and assuming this job is full-time at 40 hours per week and there are 52 weeks per year, the annual salary for Job A can be calculated as follows:
Annual Salary for Job A = $9.95/hour × 40 hours/week × 52 weeks/year = $20,664
Job B offers an annual salary of $17,500. Comparing the two, Job A provides a higher annual income than Job B.
Learning Extension - More Choices
Lana, a senior high school student exploring the job market, found several jobs with different education requirements and compensation:
- A Burger Queen crew member job pays $5.50 per hour.
- A Wall's Mart cleaning crew, requiring a high school diploma, pays $8.20 per hour.
- A Financial consultant role, requiring a college degree, offers a $43,000 annual salary.
Working full-time, the Burger Queen job would yield an annual salary of $5.50/hour × 40 hours/week × 52 weeks/year = $11,440. The Wall's Mart cleaning crew job would yield $8.20/hour × 40 hours/week × 52 weeks/year = $17,056. Comparatively, the Financial consultant role pays significantly more but requires a college degree, showcasing the relationship between education requirements and earning potential.