question 4\n4 pts\n(02.02 mc)\nkylie will be 24 years old when she graduates. if the mean weekly wage of her…

question 4\n4 pts\n(02.02 mc)\nkylie will be 24 years old when she graduates. if the mean weekly wage of her career is $1,045.00, what will her lifetime earnings be when she retires at the age of 62?\n$1,304,160.00\n$2,064,920.00\n$3,369,080.00\n$4,850,000.00

question 4\n4 pts\n(02.02 mc)\nkylie will be 24 years old when she graduates. if the mean weekly wage of her career is $1,045.00, what will her lifetime earnings be when she retires at the age of 62?\n$1,304,160.00\n$2,064,920.00\n$3,369,080.00\n$4,850,000.00

Answer

Explanation:

Step1: Calculate the number of years she works

The number of years she works is (62 - 24=38) years.

Step2: Calculate the number of weeks in those years

Since there are 52 weeks in a year, the number of weeks is (38\times52 = 1976) weeks.

Step3: Calculate lifetime earnings

If the mean - weekly wage is (w = 1045) dollars, then lifetime earnings (E=1045\times1976) [ \begin{align*} E&=(1000 + 45)\times1976\ &=1000\times1976+45\times1976\ &=1976000+45\times(2000 - 24)\ &=1976000+(45\times2000-45\times24)\ &=1976000+(90000 - 1080)\ &=1976000 + 88920\ &=2064920 \end{align*} ]

Answer:

($2,064,920.00)