If an individual makes $4,000 in salary per month and has a side job making $20 per hour for 10 hours a week for 4 weeks in a month, and they receive $1,000 per month in rent from a roommate, what is their gross income?(1 point) Responses $4,000 $4,000 $4,800 $4,800 $5,800 $5,800 Cannot be determined, because taxes and deductions are not provided
To calculate their gross income, we can add up all the different sources of income:
Salary per month: $4,000
Income from side job: $20/hour * 10 hours/week * 4 weeks/month = $800
Rent from roommate: $1,000
Total gross income = $4,000 + $800 + $1,000 = $5,800
So, their gross income is $5,800.
To calculate the individual's gross income, we need to add up their salary, income from their side job, and rental income.
Salary: $4,000 per month
Income from side job: $20 per hour x 10 hours per week = $200 per week
Income from side job per month: $200 per week x 4 weeks = $800 per month
Rental income: $1,000 per month
Total gross income: $4,000 (salary) + $800 (side job) + $1,000 (rental income) = $5,800 per month
Therefore, the individual's gross income is $5,800.
To calculate the gross income, we need to sum up all the different sources of income. In this scenario, the individual has three income streams:
1. Salary: $4,000 per month
2. Side job: $20 per hour for 10 hours a week for 4 weeks in a month. This means they earn 10 x $20 = $200 per week from the side job. Since there are 4 weeks in a month, they earn 4 x $200 = $800 per month.
3. Rent: $1,000 per month from a roommate.
To calculate the gross income, we add all these income streams together:
Salary + Side job + Rent = $4,000 + $800 + $1,000 = $5,800
So, the correct answer is $5,800.