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The beginning mean weekly wage in a certain industry is $789.35. If the mean weekly wage grows by 5.125%, what is the new mean annual wage? (1 point)O $829.80O $1,659.60O $41,046.20$43,149.82

Respuesta :

Given:

The initial mean weekly wage is $ 789.35.

The growth rate is 5.125 %.

Aim:

We need to find a new annual wage.

Explanation:

Consider the equation

[tex]A=PT(1+R)[/tex]

Let A be the new annual wage.

Here R is the growth rate and P is the initial mean weekly wage and T is the number of weeks in a year.

The number of weeks in a year = 52 weeks.

Substitute P=789.35 , R =5.125 % =0.05125 and T =52 in the equation.

[tex]A=789.35\times52(1+0.05125)[/tex]

[tex]A=43149.817[/tex]

[tex]A=43149.82[/tex]

The new mean annual wage is $ 43,149.82.

Final answer:

The new mean annual wage is $ 43,149.82.

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