Question

You are offered two jobs. One with a yearly salary of $51,670, and the other an hourly

job with a rate of $26 per hour. Both require you to work for 45 hours a week. How
much more will you make by taking the hourly job?

Answer 1

$9170 per year , or ≈ $3.92 per hour

Explanation:

We can solve this by putting both of these in terms of yearly salary and going from there.

The first job is already in terms of yearly salary.

The hourly rate job is $26 per hour. There are 45 hours worked per week, and we add $26 for each hour. Another way of saying this is 26 * 45 = total amount earned for the week = $1,170 .

There are 52 weeks in a year, and you make $1,170 per week on the hourly job. This means that over 52 weeks, you will earn 1170 * 52 = 60840. This is the yearly rate for the second job.

The difference between the two jobs is

60840 - 51670 = $9170 per year. Dividing by 52 to get the weekly gain, we get ≈ $176.35 more for the hourly job each week. Dividing by 45 to get the hourly gain, we get ≈ $3.92 dollars from taking the second job