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
$22.95
$22.95
$18.25
$18.25
$45.90
$45.90
$31.39
To find the average hourly wage for each parent, you divide the total annual basic needs budget by the total number of work hours for both parents:
Total work hours: 2 (parents) * 2,080 hours per year = 4,160 hours per year
Average hourly wage: $95,477 / 4,160 hours = $22.95
Therefore, each parent should earn an hourly wage of $22.95 to remain within their budget.