Pete needed a summer job and decided to start his own house painting business du

Question

Pete needed a summer job and decided to start his own house painting business during the months of May through August. Pete has hired two of his hardest working friends to help him paint, and he plans that they will all earn $25/hour. Since this is a short term venture for Pete, he has decided to rent the equipment needed for the summer. He found a local business that will rent him the equipment for a total fee of $9,000 for the full term of his project. If Pete can manage to line up business that will total 600 hours per person (of 1,800 hours total) over the 4 months, how much will Pete need to charge his customers to break-even?

Explanation / Answer

Amount to charge his customers to break-even = (9000/1800)+25= $30 per hour

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