Question

Please convert the following job offer into a salary in an average USA city:

$42,000 - Billings, MT - $3,800 in Benefits - Cost of Living Index = 95.3
Round your answers to the nearest cent (two decimal places)!

Answer 1

To convert the salary of $42,000 offered in Billings, MT to an equivalent salary in an average USA city, we need to adjust for differences in cost of living.

Using the cost of living index of 95.3 for Billings, MT compared to the average index of 100 for the USA, we can calculate the equivalent salary in an average USA city as follows:

$42,000 / 0.953 = $44,045.05

Adding the benefits of $3,800, the total compensation package would be:

$44,045.05 + $3,800 = $47,845.05

Therefore, the equivalent salary in an average USA city would be $47,845.05, rounded to the nearest cent as $47,845.00.