Question

Mixed Exercises According to the Bureau of Labor Statistics, the median weekly salary for an individual with a bachelor's degree is $\$ 1026$ per week. This represents an increase of $35 \%$ over the salary of an individual with an associate's degree. What is the median weekly salary of an individual with an associate's degree?

Name: Problem 62, Chapter 1: Intermediate Algebra
Uploaded: 2020-06-18T06:25:17-08:00
Duration: 2 min 25 s
Channel: Ankit Gupta
Description: Mixed Exercises According to the Bureau of Labor Statistics, the median weekly salary for an individual with a bachelor's degree is 1026 per week. This represents an increase of 35 % over the salary of an individual with an associate's degree. What is the median weekly salary of an individual with an associate's degree?

   Mixed Exercises
According to the Bureau of Labor Statistics, the median weekly salary for an individual with a bachelor's degree is $\$ 1026$ per week. This represents an increase of $35 \%$ over the salary of an individual with an associate's degree. What is the median weekly salary of an individual with an associate's degree?

Intermediate Algebra

Julie Miller, Molly… 5th Edition

Chapter 1, Problem 62

Instant Answer

Solved by Expert Ankit Gupta

06/18/2020

Step 1

According to the problem, the median weekly salary for an individual with a bachelor's degree, which is $1026, represents an increase of $35\%$ over the salary of an individual with an associate's degree. This can be written as: \[1026 = x + 0.35x\] Show more…

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Mixed Exercises According to the Bureau of Labor Statistics, the median weekly salary for an individual with a bachelor's degree is $\$ 1026$ per week. This represents an increase of $35 \%$ over the salary of an individual with an associate's degree. What is the median weekly salary of an individual with an associate's degree?

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Key Concepts

Algebraic Equation Formulation for Percentage Problems

This involves setting up an equation to relate the original value to the increased value using percentages. Here, the original value is multiplied by 1.35 (which represents 135%) to equal the final amount. Solving this equation helps find the unknown original value.

Percent Increase

This concept involves determining how much a value has grown relative to its original amount, expressed as a percentage. In problems like these, an increase of 35% means that the final value is equal to 100% of the original value plus an additional 35%, or 135% of the original value.

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