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“Never confuse the size of your paycheck with the size of your talent.” 1) 2) 3) 4) Annual Salary Set Salary No overtime Benefits Vacation 1) 2) 3) 4) Hourly Pay Salary changes every week Overtime pay Benefits for full time No vacation Carpenter - $52,880 Garbage Man - $37,100 High School Teacher - $61,470 Financial Analyst - $93,760 Police Officer - $55,580 Fire Fighter - $48,140 Dentist - $169,340 Pediatrician - $159,390 Massachusetts Department of Labor website Weekly ◦ 52 Paychecks → Annual Salary ÷ 52 Bi-Weekly ◦ 26 Paychecks → Annual Salary ÷ 26 Semi-Monthly ◦ 24 Paychecks → Annual Salary ÷ 24 Monthly ◦ 12 Paychecks → Annual Salary ÷ 12 Christina is paid biweekly. Her annual salary is $37,000. What is her biweekly salary, rounded to the nearest cent? → Biweekly = 26 paychecks Biweekly Salary = annual salary ÷ # of paychecks = $37,000 ÷ 26 = 1423.0769 = $1,423.08 Mr. Varello is paid semimonthly. His annual salary is $64,333. What is his semimonthly salary, rounded to the nearest cent? → Semimonthly = 24 paychecks Salary = annual salary ÷ # of paychecks = $64,333 ÷ 24 = 2680.5416 = $2,680.54 Manny is paid semimonthly. His semimonthly salary is $1,239. What is his annual salary? How many paychecks does Manny get? → 24 paychecks How much is each paycheck for? → $1,239 How much does Manny receive per year? →24 paychecks x $1,239 = $29,736 Please do problems 2-10 in your notebook on page 300 of the textbook. Show all work. Sarah has been offered a new job as an assistant manager in a shoe department. She will work 54 hours each week and earn $15 an hour. For this work schedule and rate of pay, is it possible for Sarah’s gross pay for one month to be at least $3,650? Typical work week is 40 hours ◦ Workers receive regular pay for up to 40 hours per week To calculate pay for regular hours: ◦ Wage = (hourly rate) x (number of hours worked) Maureen works at a local Chicken King Restaurant. Her regular hourly wage is $9.70. If she regularly works 40 hours per week, what is her regular weekly pay? Weekly Pay= (hourly rate) x (number of hours) = (9.70) x (40) = 388 Maureen makes $388 per week Mark Willow works as a customer service representative and is paid $9.10 per hour. He worked 38 hours lat week. What was his gross pay? Gross pay = (hourly rate) x (number of hours) = (9.10) x (38) = 345.8 Mark earned $345.80 last week Hours worked in a week greater than 40 Usually pays 1.5 times hourly rate “Time and a half” How many hours of overtime for: ◦ 45 hours? ◦ 54 hours? ◦ 38 hours? Janice earns $10 per hour. If her regular hours are 40 hours per week, and she receives time-and-a-half overtime, find her total pay for a week in which she works 45 hours. Total Pay = Regular Pay + Overtime Pay Regular Pay (Reg. Hrs) x (Hrly Rate) (40 hours) x ($10) = $400 Reg Pay = $400 Overtime Pay (OT hrs)x(hrly rate)x(1.5) (5 hrs) ($10) (1.5) = $75 OT Pay = $75 Janice earns $10 per hour. If her regular hours are 40 hours per week, and she receives time-and-a-half overtime, find her total pay for a week in which she works 45 hours. Total Pay = Regular Pay + Overtime Pay Total Pay = $400 + $75 = $475 Kenny Walker works as a shopping mall security guard and is paid $7.50 an hour. He is paid time-and-a-half for all hours over 40. Find his gross pay when he works 46 hours a week. Gross Pay = Reg. Pay + OT Pay = $300 + $67.50 = $367.50 Sarah has been offered a new job as an assistant manager in a shoe department. She will work 54 hours each week and earn $15 an hour. For this work schedule and rate of pay, is it possible for Sarah’s gross pay for one month to be at least $3,650? Yes, gross pay would be:$3,660 Page 301, numbers 12-21 For double time, multiply by 2 instead of 1.5 2) Yoko is paid semimonthly. How many fewer paychecks does she receive in a year compared to someone who is paid weekly? 28 paychecks 3) Sean is paid biweekly. His annual salary is $42,500. What is his biweekly salary to the nearest cent? $1,634.62 4) Cynthia’s semimonthly salary is $1,371.50. What is her annual salary? $32,916 5) Baseball player Alex Rodriguez earned $27,708,525 in 2007. He played in 158 games. What was his salary per game to the nearest thousand dollars? $175,370.41 $175,000 6) Ceil gets paid biweekly. Her biweekly salary is $1,763.28. What is her annual salary? $45,845.28 7) John’s weekly salary is $478.25. His employer is changing the pay period to semimonthly. What is John’s annual salary? $24,869 What will John’s semimonthly salary be? $1,036.21 8) Ralph earns $72,000 annually and is paid semimonthly. Alice also earns $72,000 but is paid biweekly. How many more paychecks does Alice get? 2 paychecks What is the difference between Ralph and Alice’s paycheck? $230.77 9) Beth’s annual salary was $38,350. This year she received $46,462. Beth is paid biweekly. What was her biweekly salary last year? $1,475 What is Beth’s biweekly salary this year? $1,787 How much more does Beth receive? $312 10) Justin is a golf pro. He works eight months per year, and is paid $76,000. During the winter months, he teaches golf privately and earns another $12,500. What is his average salary based on his yearly earnings? $7,375 12) Hector works in a gas station and earns $8.60 per hour. Last week he worked 29 hours. What was his gross pay? $249.40 13) Eddie works at a Beep-N-Kleen car wash. He earns $8.40 per hour. Last week he worked x hours. What was his gross pay? $8.40x 14) Lynn makes $9 an hour. Last week she worked 43 hours. What was her regular gross pay? $360.00 What was her overtime pay? $40.50 What was her total pay? $400.50 15) Amy works 20 per week. She earns $8.10 per hour and receives double-time for working on Sundays. Next week, she will work 20 regular hours and 8 hours on Sunday. What will her total pay be? $291.60 16) Tom earns $12.50 per hour. He regularly works 40 hours a week and receives timeand-a-half for overtime. Last week he worked 42 hours. How much did he make? $537.50 17) Pedro works 35 regular hours per week. He earns $9.20 per hour and time-and-ahalf for overtime. Last week he worked 41 hours and received a gross pay of $305.80, which was incorrect. How much is he owed? $99.00 18) Colby and Cheryl work in different supermarkets. Colby earns $8.90 an hour and is paid time-and-a-half for overtime. Cheryl earns $7.10 an hour and is paid double time. Who earns more for one hour of overtime? Cheryl by 85 cents 19) Ron earns x dollars per hour. He works 40 hours per week. What is his annual salary? 52 (40x) 20) Michael earns $10 an hour. He works 40 hours per week. How many overtime hours would he need to work for his overtime pay to be greater than he regular pay? 27 hours 21) Jim worked 40 hours last week plus 8 overtime hours. His gross pay was $1,248. What was his hourly rate? $24 What was his overtime hourly rate? $36 and Salaries Equations involving 1 or more variables Can use any letter to represent a variable Similar to what we have been doing. Christina is paid biweekly. Her annual salary is $37,000. What is her biweekly salary, rounded to the nearest cent? Biweekly Salary = annual salary # of paychecks Annual Salary = $37,000 # of Paychecks = 26 $37,000 26 $1,423.08 Christina is paid biweekly. Her annual salary is $Y. What is her biweekly salary, rounded to the nearest cent? Biweekly Salary = annual salary # of paychecks Annual Salary = $Y # of Paychecks = 26 $Y 26 Y 26 Manny is paid semimonthly. His semimonthly salary is $1,239. What is his annual salary? Annual Salary = (salary )(# of paychecks) = ($1,239) (24) = $29,736 Semimonthly salary = $1,239 # of Paychecks = 24 Carlos earns x dollars biweekly. Express his annual salary algebraically. Annual Salary = (Biweekly salary )(# of paychecks) = ($x) (26) = 26x Biweekly salary = $x # of Paychecks = 26 CHECK YOUR UNDERSTANDING Alex is paid semimonthly. His annual salary is y dollars. Express his semimonthly salary algebraically. Annual Salary = $Y What does this Alex makes $Y mean? per year Paid Semimonthly Alex gets paychecks What does24 this mean? Semimonthly Salary = y 24 Sli de 47 Maureen works at a local Chicken King Restaurant. Her regular hourly wage is $9.70. If she regularly works 40 hours per week, what is her regular weekly pay? Weekly Pay= (hourly rate) x (number of hours) = (9.70) x (40) = 388 Maureen makes $388 per week Roger regularly works h hours per week at a rate of d dollars per hour. Express his annual salary algebraically. Weekly Pay= (hourly rate) x (number of hours) = ($d) (h hours) = d • h dollars per week Annual Salary = (weekly salary) (52) = 52dh Janice earns $10 per hour. If her regular hours are 40 hours per week, and she receives time-and-a-half overtime, find her total pay for a week in which she works 45 hours. Total Pay = Regular Pay + Overtime Pay Total Pay = (40)($10) + (5)($10)(1.5) = $475 Ron regularly works 40 hours per week, at a rate of x dollars per hour. Last week he worked y overtime hours at time-and-a-half. Express his total weekly salary algebraically. Total Pay = Regular Pay + Overtime Pay Total Pay = (reg hrs)(hrly rate) + (ot hrs)(hrly rate)(1.5) = 40x + (y)($10)(1.5) = 40x + 15y Like Terms Samantha worked her 40 regular hours last week, plus 7 overtime hours at the time-and-a-half rate. Her gross pay was $611.05. What was her hourly rate? Sli de 52 CHECK YOUR UNDERSTANDING Jillian worked her 40 regular hours last week, plus 2 overtime hours at a double-time rate. Her gross pay was $484. What was her hourly rate? Sli de 53 Last week, Saul worked r regular hours and t overtime hours at a time and-a-half rate. He earned $700. If x represents his hourly rate, express x in terms of r and h. Sli de 54 CHECK YOUR UNDERSTANDING Jonathan worked h hours at an hourly rate of r dollars. He also worked w hours at an overtime rate of double time. Express his total pay for the week algebraically. Sli de 55 EXTEND YOUR UNDERSTANDING Jovanna gets paid a regular-pay rate of r dollars for 40 hours worked. She is paid at a time-and-a-half rate for up to 16 overtime hours worked and a double-time rate for any overtime hours worked greater than 16 hours. Write a piecewise function, p(z), for Jovanna’s pay when she works z hours. Sli de 56