The Robinson family includes 2 children and 2 parents who are both working full-time (2,080 hours per work year). Their total annual basic needs budget is $95,477 excluding taxes. On average, what hourly wage should each parent earn in order to remain within their budget?(1 point) Responses
To find the average hourly wage that each parent should earn in order to remain within their budget, we need to divide their total annual basic needs budget by the total number of working hours in a year.
Total annual budget = $95,477
Total number of working hours in a year = 2,080 + 2,080 = 4,160
Average hourly wage = Total annual budget / Total number of working hours in a year
Average hourly wage = $95,477 / 4,160 = $22.98
Therefore, each parent should earn an average hourly wage of $22.98 in order to remain within their budget.