tyrones hourly wage is $18 and his net pay is 72% of his earnings. tyrone spends about $1,800 on his monthly…

tyrones hourly wage is $18 and his net pay is 72% of his earnings. tyrone spends about $1,800 on his monthly expenses. if tyrone works 40 hours per week and has no other sources of income, what is his total monthly cash inflow? (hint: assume that there are 4 pay periods per month.)\na. $273.60\nb. $1,080.00\nc. $1,800.00\nd. $2,073.60

tyrones hourly wage is $18 and his net pay is 72% of his earnings. tyrone spends about $1,800 on his monthly expenses. if tyrone works 40 hours per week and has no other sources of income, what is his total monthly cash inflow? (hint: assume that there are 4 pay periods per month.)\na. $273.60\nb. $1,080.00\nc. $1,800.00\nd. $2,073.60

Answer

Explanation:

Step1: Calculate weekly earnings

$18\times40 = 720$ (weekly earnings are hourly wage times hours - worked per week)

Step2: Calculate monthly gross - earnings

$720\times4=2880$ (monthly gross - earnings are weekly earnings times number of pay periods per month)

Step3: Calculate monthly net - pay

$2880\times0.72 = 2073.6$ (monthly net - pay is monthly gross - earnings times the net - pay percentage)

Step4: Calculate total monthly cash inflow

Since his net - pay is his cash inflow and he has no other income sources, the total monthly cash inflow is $2073.6$

Answer:

D. $$2,073.60$