For a family of 4, the estimated monthly cost of living in Fort Worth, Texas is $3,784. If there are 2 full-time working adults in the family, what is the average hourly living wage of each in order to support their basic needs? Round your answer to the nearest hundredth
To find the average hourly living wage for each adult, we need to calculate the total monthly income needed to support the family.
Since there are 2 full-time working adults, we can divide the estimated monthly cost of living by 2 to find the amount needed for each adult.
$3,784 / 2 = $1,892
Next, we need to determine how many hours each adult works in a month. Assuming a full-time job is 40 hours a week and there are about 4 weeks in a month:
40 hours/week x 4 weeks/month = 160 hours/month
Now we can divide the monthly income needed for each adult by the number of hours they work in a month:
$1,892 / 160 hours = $11.83
Therefore, the average hourly living wage for each adult in order to support their basic needs is $11.83, rounded to the nearest hundredth.