question 1\n(02.01 lc)\njaces average gross pay is $1,450.00 bi - weekly. determine how many years it will…

Explanation:

Step1: Calculate annual pay

There are 52 weeks in a year, and bi - weekly pay means getting paid every 2 weeks. So the number of bi - weekly periods in a year is $\frac{52}{2}=26$. The annual pay $A$ is the bi - weekly pay times the number of bi - weekly periods in a year. Given bi - weekly pay $b = 1450$, then $A=1450\times26 = 37700$.

Step2: Calculate number of years

Let $y$ be the number of years to earn 1000000 dollars. We know that the total amount earned is the annual pay times the number of years, so $1000000=A\times y$. Substitute $A = 37700$ into the equation: $y=\frac{1000000}{37700}\approx26.525$. Rounding up, it takes 27 years.

Answer:

27 years