The number of team members you can hire based on your annual budget of $620,000 for the social media team is <u>16</u>.
<h3>What is budgeting?</h3>
Budgeting is the process of making a financial estimate of expected revenue and expenditure for a period.
Budgeting ensures that sufficient funds are made available and spending does not exceed the budgeted amount.
<h3>Data and Calculations:</h3>
Annual budget for media team = $620,000
Member's rate per hour = $18
Total hours worked per year by a member = 2,040
A member's earnings per year = $36,720 ($18 x 2,040)
The number of team members to hire =16.9 ($620,000/$36,720)
Thus, the number of team members to hire for the social media team is <u>16</u>.
Learn more about budgeting at brainly.com/question/24940564
