Miscellaneous
Contracts, Salaries, Hourly wages & Overtime
Commission & Piecework
Comparing types of income & Net Income
Bonus
100
I have 430.5$ after my first pay-check, it was nice getting paid. I worked 46 hours last week and it was nice to see it pay off!
(What's wrong with this Sentence?)
Money is rounded to two decimal places.
He has 430.50$. Pay attention on your test!
100
If Max makes 250 $ a day being a movie critic, how much does he make in a year?
250 $ x 7 days = 1750 $ (per week) x 52 weeks = 91,000$ is how much Max makes per year!
100
If Kaysen sells coloured shoe laces 1.65$ per pair and sold 650 pairs last month, how much did he make?
1.65$ x 650 pairs of laces = 1072.50$
100
Chase earned 1795.62$ last month before deductions, what is his net income?
CPP = 4.95%
EI = 2.00%
1795.62$ x 0.0495 = 88.88319$ (CPP)
1795.62$ x 0.02 = 35.9124$ (EI)
Total deductions = 88.88319$ + 35.9124$ --> 124.79559 = 124.80$
Net Income = Gross income - Total deductions
1795.62 - 124.80$ = 1670.82 was Chase's Net income last month!
100
What is the strongest shape ?
A triangle! Any weight placed on them is evenly distributed on all 3 sides!
200
Round the following:
1. 296.45673 --> $
2. 0.98711 --> Cents
3. 7.655555..... (repeating) --> $
1. 296.46 $
2. 0.99 Cents
3. 7.66 $
200
Nyomi is a talent manager and signed four new contracts this year, her gross income was 173,200$ for the year.
Contract 1 = 95,000 $
Contract 2 = 24,750 $
Contract 3 = 31, 420$
Contract 4 = ?
How much was Nyomi's fourth contract worth?
Contract 4 = 22,030 $
200
James sells programs at Raptors games, He earns 20$ per game, plus 23 cents for each program he sells. James sold 244 programs at the last game, what was James' total income for that game?
0.23$ x 244 programs sold = 56,12$
Gross Income = 20$ (for the game) + 56.12$ (programs sold) = 76.12$
James made 76.12$ at the last Raptors game!
200
What's greater?
A one-year contract for $84,000 or an annual salary based on $1,375/week?
1375 x 52 weeks = 71,500$
therefore an annual salary of 84,000$ is greater!
200
What does “www” stand for in a website browser?
World Wide Web!
300
4/7 = x/14
4 * 14 = 56
7 * x = 7x
56 ÷ 7 = 8
x = 8
300
An annual salary of 96,000$ or an annual salary of 94,000$ plus a 1.5% bonus?
1.5/100 = 0.015 x 94,000$ = 1410 + 94,000 = 95,410 $
Therefore, a 96,000$ annual salary is more money!
300
What is a higher weekly salary on commission ?
1. 6% commission on 1085$
2. 5% commission on 1200$
1. 6/100=0.06 x 1085 = 65.10$
2. 5/10 = 0.05 x 1200 = 60$
Therefore option 1 is the higher salary!
300
Define Gross & Net Income what makes them different?
Gross Income: the total amount of money that you earned in a pay period before any deductions!
Net Income: is the money left over after deductions are taken from gross income
Difference is that net income includes deductions but gross income does not!
300
What is the word for the plastic thing on the end of your shoe lace?
An aglet!
400
55 hours and 45 min in hours is?
6 days & 20 minutes in hours is?
1. 55.75 hours
2. 144.33 hours
400
Izzy finally quit mountain biking and now she's basically a professional snowboarder. Her new annual salary is $100,400$.
What is her hourly wage of she works 6 hours a day, 5 days a week, 44 weeks of the year?
100,400$ = Gross Income
100,400 ÷ 44 weeks = 2281.82$ /week
2281.82 ÷ 5 days = 456.36$/day
456.36 ÷ 6 hours = 76.06$ /hr is Izzy's hourly wage
400
Veronika works at a music store and makes 950$/month. She also makes 4% commission on the first 15,000$ she makes in the month and 6% commission on sales over 15,000$.
Veronika's sales for September were 28,200$, what was Veronika's gross Income for the month of September?
Base Salary = 950$
28,200 - 15,000 = 13,200$
4%=4/100= 0.04 Commission → 0.04 x 15,000 $ = 600$ (4% commission)
0.06 x 13,200 = 792$ (6% commission)
Veronika's Gross income = 950$ + 600$ + 792$ = 2342 $ (For all of September!)
400
Tiya earns 9.40$/h, Tayven earns 8.10$/h and gets time and a half for hours worked over 40 h per week. Compare their incomes for working 50 h in one week.
Tiya → 9.40$ x 50 hours = 470$ made in 50 h
Tayven → 8.10$ x 40 hours (regular pay) = 324 $
1.5 x 8.10$ = 12.15$ x 10 hours (time and half) = 121.50$
Tayven's Gross income → 324$ + 121.50$ = 445.50$ made in 50 hours.
Therefore, Tiya makes more money in a 50 h workweek than Tayven does.
400
Name at least two of the five most dangerous land animals in the world.
Lions, Hippos (Bowling ball), Elephants, Dogs (rabies), Humans
500
Name as many ways of earning income that you can
(less than 5 = steal, more that 5 = 100 bonus points per)
(must provide an example of each)
1. Hourly wage - Fast Food Worker
2. Wage & Tips = Waitress/Waiter
3. Salary = Teacher
4. Commission = Realtor
5. Royalty = Musician
6. Piecework = factory worker
7. Contract = Contractor (most private construction is done by contract)
500
Matea earns 11.25$/hour plus time and half after 45 hours worked per week.
Last week she worked 51 hours.
What was Mattea's gross income for the week?
51hours - 45 hours = 6 overtime hours
11.25$ 45 hours = 506.25$ (regualar)
11.25$ x 1.5 = 16.875 $ (overtime pay - leave unrounded until the end!)
16.875 $ x 6 hours = 101.25$
gross income = 101.25$ + 506.25$ --> 607.50$ was Matea's gross income for the week!
500
I make a commission of 7% and I have a base salary of 300$/week. How much do I need to sell to make an income of 4500$? (in one week)
Step 1. Calculate salary from commission
4500$ - 300$ = 4200$ (salary from commission)
1a. 7/100=0.07
Step 2. Calculate Sales
4200$ = 0.07 * x
2a. 4500$ ÷ 0.07 = 60,000$ = x
I need to sell 60,000$ worth of clothing (with a base salary of 300$) in a week (7% commission) to make 4500$
500
Maddox is the manager if a sporting goods store and makes 770$ a week, calculate his standard deductions & total deductions
15% = 15/100 = 0.15
1.73% = 1.73/100 = 0.0173
4.95% = 4.95/100 = 0.0495
Standard deductions:
0.15 x 770$ = 115.50$
0.0173 x 770$ = 13.32$
0.0495 x 770$ = 38.12$
Total deductions = 166.94$
500
Which artist has the best-selling music Album of all time? (hint: the artist is dead)
Michael Jackson - Thriller (1982) 51.2 Million Copies Sold.