Problem 125 - Prealgebra

Question

Salary Last year Natalie’s salary was \(82,572. Two years ago, her salary was \)79,316, and three years ago it was $75,298. What is the total amount of Natalie’s salary for the past three years?

Step-by-Step Solution

Answer

The total amount of Natalie's salary for the past three years is \(237,186\).

Step 1 - Identify the Salaries Given

List the salaries for the past three years. Last year's salary is \(82,572\), two years ago it was \(79,316\), and three years ago it was \(75,298\)

Step 2 - Add the Salaries

Add all three salaries together: \(82,572 + 79,316 + 75,298\)

Step 3 - Calculate the Total

Calculate the sum of the salaries: \(82,572 + 79,316 + 75,298 = 237,186\)

Key Concepts

Identifying Numbers

Before we can add salaries, the first step is to accurately identify and list the numbers involved. In this exercise, we have Natalie's salaries from three years: last year, two years ago, and three years ago. These numbers are

• Last year: \(82,572\)
• Two years ago: \(79,316\)
• Three years ago: \(75,298\)
Understanding the context is essential in financial literacy. For instance, recognizing these as salaries can explain why specific numbers are involved and the importance of adding them. Listing numbers accurately ensures that you don't miss or misinterpret any data. This attention to detail is not only crucial in math problems but also in real-life financial tasks like budgeting or auditing.

Adding Multi-Digit Numbers

Adding multi-digit numbers can seem daunting, but with a bit of practice and a step-by-step approach, it becomes quite simple. Here, we need to add Natalie's salaries over three years: \(82,572 + 79,316 + 75,298\). Follow these steps to do it correctly:

• Line up the numbers by their place values (units, tens, hundreds, thousands, and ten thousands).
• Start adding from the rightmost digit (units place) and move left.
• Carry over any value more than 9 to the next left column.

When we add: \begin{align*} 82,572 \ ewline + 79,316 \ ewline + 75,298 ewline = 237,186 ewline \end{align*} Breaking it down helps in understanding both the process and the importance of place values in addition. Each digit must be correctly aligned to get an accurate total.

Financial Literacy

Financial literacy involves understanding and effectively applying various financial skills, including personal financial management, budgeting, and accounting. Adding up salaries as demonstrated in this exercise is a practical example of these skills. Knowing how to sum up earnings over several periods allows individuals to:

• Track income over time and understand their earning patterns.
• Make informed financial decisions, like budgeting for expenses or saving for the future.
• Plan for taxes by knowing total income, which can affect tax brackets and returns.

By mastering these foundational mathematical skills, individuals can improve their financial planning and decision-making processes, leading to better financial health and security.