Last year Frank had a total income of $58,800. He sold a house and made a profit of $27,940. He also had monthly income of $80 from investments. Assuming Frank works 25 hours per week and 52 weeks per year as an hourly employee, how much more an hour would Frank had to have earned last year in order to have a total income of $59,970?
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Answer:
Step-by-step explanation:
We analyse the income as follows :
Income from investments in one year is given by :
80 × 12 = 960
Income from selling a house is = 27940
Total income from investment and sale of the house = 27940 + 960
= 28900
Total income = 58800
Income from Salary = 58800 -28900 = 29900
If he wanted to earn 59970 that year his salary would have been :
59970 -28900 = 31070
The difference is as follows :
31070 - 29900 = 1170 more
This is for a year.
per week this is equivalent to P:
1170/52 = 22.5 per week.
Per hour this would have been :
22.5/25 = 0.9
It will be $ 0.9 per hour .
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