Question

Tyrone’s hourly wage is $18 and his net pay is 72% of his earnings. Tyrone spends about $1,800 on his monthly expenses. If Tyrone works 40 hours per week and has no other sources of income, what is his total monthly cash inflow? (Hint: Assume that there are 4 pay periods per month.)

Answer 1

$273.60

Explanation:

Tyrone's hourly wage = $18.00

He works 40 hours per week, his weekly earnings = 18 × 40

= $720.00

There are 4 weeks in a month, his monthly gross earning = 720 × 4

= $2,880

His net pay is 72% of his earnings.

Tyrone's monthly net pay = 72% × 2,880

= 0.72 × 2,880

= $2,073.60

Tyrone spends on his monthly expenses = $1,800

His total monthly cash inflow = 2,073.60 - 1800

= $273.60

Tyrone's monthly cash inflow would be $273.60.

Answer 2

The answer is
72% of his earnings is $18x 72 / 100 = $12.96
Tyrone works 40 hours per week
in one month (Assumed that there are 4 pay periods per month)
he works 40*4=160 hours
so 1 hour is for $12.96 net
160 hours for x=?
x=$2073.6
his total monthly cash inflow is $2073.6 - $1,800=$273.6