Question

. Jaime's hourly wage is $16 and her net pay is 65% of her earnings. Jaime spends about $1,300 on her monthly

expenses. If Jaime works 40 hours per week and has no other sources of income, what is her total monthly cash
inflow? (Hint: Assume that there are 4 pay periods per month.)

Answer 1

• Monthly income is $1664, positive balance each month is $364

Explanation:

• Hourly wage = $16
• Net pay = 65%
• Monthly spending = $1300
• Work hours = 40 hours per week = 4*40 = 160 hours per month

Monthly earning:

• 160*16 = 2560

Monthly net payment:

• $2560*0.65 = $1664

Remaining balance per month after expenses:

• $1664 - $1300 = $364