A good estimation for planning on purposes is to figure on ________ of your gross income to be realized income.
65% ***
70%
80%
If I was told that I would be making $40,000/year, would I need to multiply or divide by the percentage from the first question to find what the realized income would be?
Multiply
Divide ***
You are working a new job and make $11.25/hr for 28 hours each week. What is your expected realized income if you are a bi-weekly employee?
$630.00
$441.00 ***
$220.50
You are looking for a new job, but you know that you need $395 every week to pay all of your bills. What minimum hourly wage should you be looking for if you can work 35 hours each week?
$9.88/hr
$11.29/hr ***
$16.12/hr
What is a bi-weekly employee?
Your first and last answers are right.
To answer the first question, a good estimation for planning purposes is to figure on 65% of your gross income to be realized income. If you were told that you would be making $40,000/year, you would need to multiply this amount by the percentage (65%) to find the realized income. So, you would multiply $40,000 by 0.65 to get the realized income.
For the second question, if you are working a new job and making $11.25/hr for 28 hours each week, and you are a bi-weekly employee, you can calculate your expected realized income as follows: Multiply your hourly wage by the number of hours worked each week to get the weekly income, and then multiply that by 2 to get the bi-weekly income. In this case, it would be 28 hours x $11.25/hr = $315 per week, and then $315 x 2 = $630 for the bi-weekly income.
For the third question, if you need $395 every week to pay all of your bills and you can work 35 hours each week, you can calculate the minimum hourly wage you should be looking for. Divide the amount needed ($395) by the number of hours worked each week (35) to get the minimum hourly wage. In this case, it would be $395 ÷ 35 = $11.29/hr. So, you should be looking for a job that pays at least $11.29/hr.