Question

question 3
1 pts
(02.02 mc)
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?
$829.80
$1,659.60
$41,046.20
$43,149.82

Explanation:

Step1: Calculate the new weekly wage

The formula for calculating the new value after a percentage increase is \(A = P(1 + r)\), where \(P\) is the initial amount, \(r\) is the rate of increase. Here, \(P=\$789.35\), \(r = 5.125\%=0.05125\).

$$A=789.35\times(1 + 0.05125)=789.35\times1.05125=\$829.8$$

Step2: Calculate the annual wage

Since there are 52 weeks in a year, the annual wage \(W\) is the weekly wage \(A\) multiplied by 52.

$$W = 829.8\times52=\$43149.82$$

Answer:

\(\$43149.82\)