Eben figures he can work a part-time job for 20 hours a week, 50 weeks a year, for the next four years to earn money for his higher education. He wants to pursue a two-year program at a community college and figures he will need $22,500 each year for tuition, fees, and living expenses. What is the minimum he must make per hour?(1 point)
Responses
$10.50
$11.25
$10.82
$5.63
To calculate the minimum hourly wage Eben must make, we need to divide the total amount of money he needs over the four years ($22,500 x 2 years) by the total number of hours he will work over the four years (20 hours/week x 50 weeks/year x 4 years).
Total money needed: $22,500 x 2 = $45,000
Total hours worked: 20 hours/week x 50 weeks/year x 4 years = 4,000 hours
Minimum hourly wage: $45,000 / 4,000 hours = $11.25
Therefore, Eben must make at least $11.25 per hour.