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Math Tricks/Tips

A Useful Approximation

Posted on:  May 13, 2014

I saw a video post from the Whitehouse that asked a simple question: "If someone works full time and makes the federal minimum wage, do you know how much their annual salary is?" In the video, an interviewer went around asking people that question, and most of the responses shown were way off the mark. It is clear that the people featured in the video never learned a simple method to approximate an annual salary from an hourly wage. In this post, I describe a handy method to perform the approximation described above.  Read more