The Ronson family includes two children and two parents who are both working full-time (2080 hours per work year) their total annual basic needs budget is $95 477 including taxes on average what hourly wage should each parent earn in order to remain within their budget
45.90
18.25
31.39
21.95
To calculate the hourly wage each parent should earn, we need to divide the total annual basic needs budget by the total number of working hours in a year (2080).
Total annual basic needs budget: $95,477
Total working hours in a year: 2080
Hourly wage for each parent = Total annual basic needs budget / Total working hours in a year
Hourly wage for each parent = $95,477 / 2080
Calculating the above expression:
Hourly wage for each parent ≈ $45.90
Therefore, each parent should earn approximately $45.90 per hour to remain within their budget.