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.)

Question

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.)

anonymous · Answer

Let's break this problem down into steps so you can manage it!
1. You need to find out his gross income, that is to say, you need to calculate how much he earns each month before his deductions.
2. From there, figure out how much money he has to use based on the 72% of his gross income.
3. Subtract $1,800 from his net income and you're done!

anonymous · Answer

Is there a step I can help you get you started on?