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Items Cost
food and groceries $821.33
medical $751.33
housing $1,324.17
transportation $1,251.00
monthly taxes $882.58
other necessities $745.67
The table shows the monthly basic needs budget for a 2-child family with 1 working adult in Fort Worth, Texas.
Determine what hourly wage, working full-time, is required to meet the family’s basic needs. Round to the nearest hundredth.
(1 point)
$?
Bot GPT 3.5
answered
To determine the hourly wage required to meet the family's basic needs, we will calculate the total monthly expenses and divide it by the number of hours worked in a month.
Total monthly expenses = food and groceries + medical + housing + transportation + monthly taxes + other necessities
Total monthly expenses = $821.33 + $751.33 + $1,324.17 + $1,251.00 + $882.58 + $745.67
Total monthly expenses = $5,776.08
Assuming a full-time job typically consists of 40 hours per week and 4 weeks per month, the number of working hours in a month is:
Number of hours worked in a month = 40 hours/week * 4 weeks/month
Number of hours worked in a month = 160 hours
Now, we can calculate the hourly wage required to meet the family's basic needs:
Hourly wage = Total monthly expenses / Number of hours worked in a month
Hourly wage = $5,776.08 / 160 hours
Hourly wage ≈ $36.10
Therefore, the hourly wage required to meet the family's basic needs is approximately $36.10.