Question

Susan and Toby created a list of their monthly household expenses, as shown below.

Mortgage: $1,792.00
Monthly Bills: $1,536.00
Entertainment and Food: $768.00
Savings: $1,024.00

Which hourly wage, working 40 hours a week for 4 weeks, meets these expenses?

Answer 1

One person will need to make $32 per hour or they could both earn $16 per hour each.

If you add up all the expenses, you have $5120. Working 40 hours per week for 4 weeks gives a total of 160 hours.

5120 / 160 = 32