Tyrone’s 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.)
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Answer:
Total monthly cash flow = $273.60
Explanation:
Tyrone's hourly wage is $18 and his net pay is 72% of his earning.
Tyrone's spends $1,800 on his monthly expenses.
In 1 hour Tyrone's earn = 72% of 18 = $12.96
In 1 week works = 40 hours
In 1 week Tyrone's earns = 40 x 12.96 = $518.40
Cash inflow of 4 week
In 4 week Tyrone's earns = 518.40 x 4 = $2073.60
Tyrone's spends in 1 month = $1800
Tyrone's earn in 1 month = $2073.60
Net cash inflow = Income - Spend
Net cash inflow = 2073.60 - 1800
Net cash flow = $273.60
Thus, Total monthly cash inflow is $273.60
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ANSWER - D 2073.60
NOT 273.60
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