Question

Pleases help me out with this :(

State the minimum monthly income and hourly wage per worker needed to cover monthly expenses for the family you used in part a. Then, explain how to calculate the hourly wage based on the monthly income and state the hourly wage. Assume that each full-time worker works four 40-hour work weeks per month, and each part-time worker works two 40-hour weeks per month.
MONTHLY COSTS
2 adults and 2 children
HOUSING: $1,042, FOOD: $711, CHILD CARE: $1,430, TRANSPORTATION: $1,245, HEALTH CARE: $1,426, OTHER NECESSITIES: $707, TAXES: $1,019
MONTHLY TOTAL: $7,580 ANNUAL TOTAL: $90,962
(not math, its personal financing, but obvi they didnt have that choice)

Answer 1

$23.69 an hour

Explanation:

Assuming that its two parents working roughly 160 hours a month (of a full time job) they would need to be making at least 23.69 an hour to meet your annual requirement (rough estimate hopefully it helps you get on track though)