For a family of 4 the estimated monthly cost of living in Fort Worth Texas is $3784. 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 first need to determine the monthly income needed to cover the estimated cost of living:
$3784 / 2 = $1892
Next, we need to determine the number of work hours in a month for each adult. Assuming a standard 40-hour workweek and 4 weeks in a month:
40 hours/week * 4 weeks/month = 160 hours/month
Finally, we can calculate the average hourly living wage for each adult by dividing the monthly income needed by the number of work hours in a month:
$1892 / 160 = $11.825
Rounded to the nearest hundredth, the average hourly living wage for each adult is $11.83.