3 years ago

what is the hourly median income for a female with a less than a highschool diploma if you assume a 40-hour work week?

Mathematics

1 answer:

kakasveta [241]3 years ago

8 0

Answer:

I believe the answer would be 323/40=$8.07/hr

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Step-by-step explanation:

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Sunny_sXe [5.5K]

$\bf \qquad \qquad \textit{Future Value of an ordinary annuity}
\\\\
A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]$

$\bf \qquad 
\begin{cases}
A=
\begin{array}{llll}
\textit{original amount}\\
\textit{already compounded}
\end{array}&
\begin{array}{llll}

\end{array}\\
pymnt=\textit{periodic payments}\to &200\\
r=rate\to 7\%\to \frac{7}{100}\to &0.07\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, four quarters}
\end{array}\to &4\\

t=years\to &12
\end{cases}
\\\\\\
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