Question

gregory and crystal are a married couple with 3 children. they are both full time (40 hours per week). their total monthly basic needs budget is 8,075 excluding taxes. on average what hourly wage should each earn in order to remain within their budget

Answer 1

To remain within their budget, Gregory and Crystal should each earn an average hourly wage of $23.32.

Step-by-step explanation:

To determine the average hourly wage each should earn to remain within their budget, we need to divide their total monthly basic needs budget by the total number of hours they work in a month.

Let's assume Gregory and Crystal both work 40 hours per week for a total of 80 hours per week. In a month, there are approximately 4.33 weeks, so they work a total of 346.4 hours in a month.

To find the average hourly wage, we divide the total monthly basic needs budget ($8,075) by the total number of hours worked (346.4).

Average hourly wage = Total budget / Total hours worked = $8,075 / 346.4 = $23.32 (rounded to the nearest cent).

Therefore, Gregory and Crystal should each earn an average hourly wage of $23.32 in order to remain within their budget.