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Salaries

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Marlon Brando (actor) “Never confuse the size of your paycheck with the size of your talent.”

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**Salaries Annual Salary Hourly Pay Set Salary No overtime Benefits**

Vacation Hourly Pay Salary changes every week Overtime pay Benefits for full time No vacation

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**Average Salaries 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

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**Pay Periods Page 300, 2-10 Weekly Bi-Weekly Semi-Monthly**

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

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**Christina is paid biweekly. Her annual salary is $37,000**

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 = = $1,423.08

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**Mr. Varello is paid semimonthly. His annual salary is $64,333**

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 = = $2,680.54

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**Manny is paid semimonthly. His semimonthly salary is $1,239**

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

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Classwork Please do problems 2-10 in your notebook on page 300 of the textbook. Show all work.

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Hourly Rate

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Think about this… 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?

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**Regular Time 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)

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Example: Maureen works at a local Chicken King Restaurant. Her regular hourly wage is $ 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

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Try it… 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 $ last week

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**Overtime 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?

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Example: 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

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**Calculating Pay Regular Pay Overtime Pay (OT hrs)x(hrly rate)x(1.5)**

(Reg. Hrs) x (Hrly Rate) (40 hours) x ($10) = $400 Overtime Pay (OT hrs)x(hrly rate)x(1.5) (5 hrs) ($10) (1.5) = $75 Reg Pay = $400 OT Pay = $75

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Example: 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

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Try it… 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 Find his gross pay when he works 46 hours a week. Gross Pay = Reg. Pay + OT Pay = $300 + $67.50 = $367.50

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Think about this… 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

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**Classwork Page 301, numbers 12-21**

For double time, multiply by 2 instead of 1.5

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Homework Answers 2) Yoko is paid semimonthly. How many fewer paychecks does she receive in a year compared to someone who is paid weekly? 28 paychecks

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Homework Answers 3) Sean is paid biweekly. His annual salary is $42,500. What is his biweekly salary to the nearest cent? $1,634.62

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Homework Answers 4) Cynthia’s semimonthly salary is $1, What is her annual salary? $32,916

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Homework Answers 5) Baseball player Alex Rodriguez earned $27,708,525 in He played in 158 games. What was his salary per game to the nearest thousand dollars? $175,370.41 $175,000

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Homework Answers 6) Ceil gets paid biweekly. Her biweekly salary is $1, What is her annual salary? $45,845.28

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Homework Answers 7) John’s weekly salary is $ 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

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Homework Answers 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

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Homework Answers 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

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Homework Answers 10) Justin is a golf pro. He works eight months per year, and is paid $76, 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

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Homework Answers 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

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Homework Answers 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

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Homework Answers 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

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Homework Answers 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

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Homework Answers 16) Tom earns $12.50 per hour. He regularly works 40 hours a week and receives time- and-a-half for overtime. Last week he worked 42 hours. How much did he make? $537.50

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Homework Answers 17) Pedro works 35 regular hours per week. He earns $9.20 per hour and time-and-a- half 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

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Homework Answers 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

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Homework Answers 19) Ron earns x dollars per hour. He works 40 hours per week. What is his annual salary? 52 (40x)

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Homework Answers 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

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Homework Answers 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

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**Algebraic Expressions**

and Salaries

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**Algebraic Expressions**

Equations involving 1 or more variables Can use any letter to represent a variable Similar to what we have been doing.

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**Example 1 Biweekly Salary = Annual Salary = # of Paychecks = $37,000**

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 = $37,000 26

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**Example 1 - Algebraic Biweekly Salary = Annual Salary =**

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 = $Y 26

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**Example 2 Manny is paid semimonthly. His semimonthly salary**

is $1,239. What is his annual salary? Annual Salary = Semimonthly salary = # of Paychecks = (salary ) (# of paychecks) = ($1,239) (24) = $29,736 $1,239 24

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Example 2 - Algebraic Carlos earns x dollars biweekly. Express his annual salary algebraically. Annual Salary = Biweekly salary = # of Paychecks = (Biweekly salary ) (# of paychecks) = ($x) (26) = 26x $x 26

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**CHECK YOUR UNDERSTANDING **

Alex is paid semimonthly. His annual salary is y dollars. Express his semimonthly salary algebraically. Annual Salary = $Y Paid Semimonthly Semimonthly Salary = Alex makes $Y per year What does this mean? What does this mean? Alex gets 24 paychecks

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Example 3 Maureen works at a local Chicken King Restaurant. Her regular hourly wage is $ 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

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Example 3 - Algebraic 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

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Example 4 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) = $475 + (5)($10)(1.5)

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Example 4 - Algebraic 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)(x)(1.5) = 40x + 1.5xy

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Homework Problem 1 Mr. Whittaker earns b dollars biweekly. What is his annual salary? Annual salary = (biweekly salary)(# of paychecks) = (b) (26) = 26b

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Homework Problem 1 His employer is changing the pay procedure to monthly, but no annual salaries are changing. What is his monthly salary? Monthly salary = 26b = 12

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Homework Problem 2 Ms. Saevitz is paid semimonthly. Her annual salary is a dollars. What is Ms. Saevitz’s semimonthly salary? Semimonthly salary = a = 24

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Homework Problem 2 If her office changes to a biweekly pay schedule, what will Ms. Saevitz’s biweekly salary be? Biweekly salary = a = 26

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Homework Problem 3 Mr. Lewis regularly works h hours per week at a rate of y dollars per hour. Express his annual salary in terms of h and y. Weekly Salary = hy Annual Salary = 52hy

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Homework Problem 4 If you earn d dollars per hour regularly, express your hourly overtime rate algebraically if you are paid time-and-a-half for overtime. Overtime Rate = 1.5d

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Homework Problem 5 Mrs. Trobiano regularly works 40 hours per week at a rate of d dollars per hour. Last week she worked h overtime hours at double time. What was her total salary in terms of d and h. Reg. Pay = 40d Ot Pay = hd(2) Total Pay = 40d + 2hd

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Writing Formulas You work at a store making d dollars per hour. Last week, you worked 35 regular hours and h overtime hours, at time-and-a- half. Write a formula that expresses your weekly pay. Weekly Pay = 35d + hd(1.5) = 35d + 1.5hd

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Writing Formulas Last week, you worked a total of 52 hours, 40 of which were regular hours. You are paid x dollars per hour and are paid double time for all overtime hours. Your weekly salary was $800. Set up an equation that represents this. 40x + 12(2)(x) 40x + 24x = 800

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Writing Formulas You work at a store making d dollars per hour. Last week, you worked 35 regular hours and h overtime hours, at time-and-a- half. Write a formula that expresses your weekly pay if you made $765. Weekly Pay = 35d + hd(1.5) = 35d + 1.5hd = 765

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**Solving for hourly rate**

When you are given the number of hours and weekly (or annually) salary, we can find the hourly rate by: Writing an algebraic expression Doing any arithmetic that can be done Combine like terms Solve the equation (divide)

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Last week, you worked a total of 52 hours, 40 of which were regular hours. You are paid x dollars per hour and are paid double time for all overtime hours. Your weekly salary was $800. Find your hourly rate 1. 40x + 12(2)(x) = 800 x + 24x = 800 3. 64x = 800 → x = 12.5 You made $12.50 per hour

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Samantha worked her 40 regular hours last week, plus 7 overtime hours at the time-and- a-half rate. Her gross pay was $ What was her hourly rate? Let r = hourly rate 1. 40r + 7(1.5)(r) = r r = r = → r = 12.1 You made $12.10 per hour

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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? Let r = hourly rate 1. 40r + 2(2)(r) = r + 4r = r = 484 → r = 11 You made $11.00 per hour

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**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. 1. rx + t(x)(1.5) = 700 Solve for x x (r + 1.5t) = 700 → x =

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**Last week, you worked a total of 55 hours, 40 of which were regular**

Last week, you worked a total of 55 hours, 40 of which were regular. For all overtime hours, you receive time-and-a-half. Your gross pay for the week was $ Find your hourly rate r + 15(1.5)(r) = r r = r = → r = 10.3 You made $10.30 per hour

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**Steve worked 37 regular hours last week. His gross pay was $545. 75**

Steve worked 37 regular hours last week. His gross pay was $ What was his hourly rate? 1. 37r + 0(1.5)(r) = r + 0r = r = → r = 14.75 You made $14.75 per hour

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Krissy worked 40 regular hours last week, plus 8 overtime hours at the time-and-a-half rate. Her gross pay was $572. What was her hourly rate? 1. 40r + 8(1.5)(r) = r + 12r = r = 572 → r = 11 You made $11 per hour

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Mrs. Frasier worked her 40 regular hours last week, plus four overtime hours at the double-time rate. Her gross pay was $576. What was her hourly rate? 1. 40r + 4(2)(r) = r + 8r = r = 576 → r = 12 You made $12 per hour

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Mr. Johnson worked 45 regular hours last week, and 8 hours of overtime at the time- and-a-half rate. What was his hourly rate if his gross pay was $1,197? 1. 45r + 8(1.5)(r) = 1, r + 12r = 1, r = 1,197 → r = 21 You made $21 per hour

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Liam worked 40 hours a week regular time and 8 hours a week overtime at the time-and-a- half rate. Last year, Liam earned a total of $41,912. What is his hourly rate? → Weekly Rate = $ r + 8(1.5)(r) = r + 12r = r = 806 → r = 15.5 You made $15.50 per hour

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Last week, Saul worked r regular hours and t overtime hours at the time-and-a-half rate. He earned $700. If x represents his hourly rate, express x in terms of r and h. 1. rx + tx(1.5) = x(r + 1.5t) = x =

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**Gary earns $42,990 per year. He is paid weekly**

Gary earns $42,990 per year. He is paid weekly. He currently has a $456-per-month car loan payment, and he pays $1,277 per year for auto insurance. Is one week’s paycheck enough to pay his monthly auto loan and his monthly cost of insurance? Weekly Pay = $ Car Loan = $456 Insurance = $106.42 Total Bills: $562.42 He will make enough in one week to pay for his car with $ left.

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