Question

ASAP!!! NEED AN ANSWER

In this budget scenario, use 15 per hour as the current wage for 40 hour work weeks. Hint: There are 52 weeks in a year, and 12 months in a year.

1. What is the gross yearly income?

2. What is the gross monthly income using this pay rate?

Answer 1

1)Gross Yearly Income = Hourly Wage × Hours per Week × Weeks in a Year

Gross Yearly Income = $15/hour × 40 hours/week × 52 weeks/year

Gross Yearly Income = $31,200

2)Gross Monthly Income = Gross Yearly Income / Months in a Year

Gross Monthly Income = $31,200 / 12 months

Gross Monthly Income ≈ $2,600