desiree works 28 hours per week. she has a monthly income of $120 from investments. desiree also plays in a…

desiree works 28 hours per week. she has a monthly income of $120 from investments. desiree also plays in a band one night a week making $200. she has a total annual income of $49,696. desiree wants to ask her boss for a raise so that next year she can have a total income of $51,880. assuming the other incomes remain the same, how much of an hourly raise will desiree need?\na. $1.25\nb. $1.50\nc. $1.75\nd. $2.00\nplease select the best answer from the choices provided

desiree works 28 hours per week. she has a monthly income of $120 from investments. desiree also plays in a band one night a week making $200. she has a total annual income of $49,696. desiree wants to ask her boss for a raise so that next year she can have a total income of $51,880. assuming the other incomes remain the same, how much of an hourly raise will desiree need?\na. $1.25\nb. $1.50\nc. $1.75\nd. $2.00\nplease select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate current annual non - work income

Monthly investment income is $120, so annual investment income is $120\times12 = 1440$. Weekly band income is $200, so annual band income is $200\times52=10400$. Total non - work annual income is $1440 + 10400=11840$.

Step2: Calculate current annual work income

Total current annual income is $49696$. Subtract non - work income to get work income. Current annual work income is $49696−11840 = 37856$.

Step3: Calculate current hourly wage

She works 28 hours per week. In a year (52 weeks), she works $28\times52 = 1456$ hours. Current hourly wage is $\frac{37856}{1456}=26$.

Step4: Calculate desired annual work income

Desired total annual income is $51880$. Non - work income remains $11840$. So desired annual work income is $51880−11840 = 40040$.

Step5: Calculate desired hourly wage

She still works 1456 hours per year. Desired hourly wage is $\frac{40040}{1456}=27.5$.

Step6: Calculate the raise

Desired hourly wage minus current hourly wage. Raise is $27.5−26 = 1.5$.

Answer:

b. $1.50$