The Robinson family includes 2 kids 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 to remain within their budget?
RESPONSES
$18.25
$31.39
$45.90
$22.95
To determine the hourly wage each parent should earn to remain within their budget, we can divide the total annual basic needs budget by the number of annual work hours (2,080).
Total annual basic needs budget = $95,477
Number of annual work hours = 2,080
Hourly wage = Total annual basic needs budget / Number of annual work hours
Hourly wage = $95,477 / 2,080
Calculating this, we find:
Hourly wage = $45.90
Therefore, the correct answer is $45.90.