Because if you multiply 1240 by 52 because there is 52 weeks in a year you get 64480
$1,240 * 52 weeks = $64,480 dollars a year ;
The annual salary of $64,480 is equivalent to a weekly salary of $1,240 because there are 52 weeks in a year. This can be verified by calculating the annual amount based on the weekly pay and vice versa. Therefore, both figures represent the same income value expressed over different periods.
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