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)

Question

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)

$10.82

$11.25

$10.50

$5.63

Answer 1

To calculate the minimum amount Eben must make per hour, let's first determine the total amount he needs to earn for four years of higher education.

Eben will need $22,500 each year for tuition, fees, and living expenses.
So, for four years, the total amount needed is $22,500/year × 4 years = $<<22500*4=90000>>90,000.

Since Eben plans to work for 20 hours a week, 50 weeks a year, for four years, the total number of hours he will work is 20 hours/week × 50 weeks/year × 4 years = 4,000 hours.

Now, divide the total amount needed by the total number of hours worked to find the minimum amount he must make per hour: $90,000 ÷ 4,000 hours = $<<90000/4000=22.50>>22.50 per hour.

Therefore, the minimum he must make per hour is $22.50.

However, none of the given answer choices match this calculation.