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)
• $10.50
• $10.82
• $5.63
• $11.25
To calculate the minimum he must make per hour, we need to divide the total amount Eben needs to earn over four years by the total number of hours he plans to work.
Total amount needed over four years = $22,500/year * 2 years = $45,000
Total number of hours Eben plans to work = 20 hours/week * 50 weeks/year * 4 years = 4,000 hours
Minimum he must make per hour = $45,000 / 4,000 hours = $11.25
Therefore, the minimum he must make per hour is $11.25. Answer: • $11.25