QuestionTodd earns \$35.00/hour for 40 hours a week plus a \$3,000 bonus. Calculate his first annual salary.

Studdy Solution

STEP 1

Assumptions1. Todd's hourly wage is $35.00. He works40 hours a week3. He receives a one-time signing bonus of$ 3,0004. There are52 weeks in a year

STEP 2

First, we need to find Todd's weekly earnings. We can do this by multiplying his hourly wage by the number of hours he works in a week.
$Weekly\, earnings = Hourly\, wage \\times Hours\, per\, week$

STEP 3

Now, plug in the given values for the hourly wage and hours per week to calculate the weekly earnings.
$Weekly\, earnings = \$35.00 \\times40$

STEP 4

Calculate the weekly earnings.
$Weekly\, earnings = \$35.00 \\times40 = \$1,400$

STEP 5

Now that we have the weekly earnings, we can find the annual earnings by multiplying the weekly earnings by the number of weeks in a year.
$Annual\, earnings = Weekly\, earnings \\times Weeks\, in\, a\, year$

STEP 6

Plug in the values for the weekly earnings and the number of weeks in a year to calculate the annual earnings.
$Annual\, earnings = \$1,400 \\times52$

STEP 7

Calculate the annual earnings.
$Annual\, earnings = \$1,400 \\times52 = \$72,800$

STEP 8

Now that we have the annual earnings, we can add the signing bonus to find the total annual salary for the first year.
$Total\, annual\, salary = Annual\, earnings + Signing\, bonus$

STEP 9

Plug in the values for the annual earnings and the signing bonus to calculate the total annual salary.
$Total\, annual\, salary = \$72,800 + \$3,000$

STEP 10

Calculate the total annual salary.
$Total\, annual\, salary = \$72,800 + \$3,000 = \$75,800$ Todd's annual salary for his first year is $75,800.

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