Vocabulary (Ch. 5.1 - 5.2)
Definition: This is a 1-2 page document of a person's education and qualifications for employment.
Resume
Definition: A type of insurance that covers all members of the household; used to help pay for medical bills
Family Health Insurance
The world's largest laser tag facility calls you and offers you a job to work for them. They offer you a part-time position as a Laser Pro, which comes with an annual salary of $35,000. What would be your weekly AND monthly take-home pay?
Weekly Take-Home Pay = $673.08
Monthly Take-Home Pay = $2,916.67
Weekly Pay → $35,000 (÷) 52 weeks = $673.08
Monthly Pay → $35,000 (÷) 12 months = $2,916.67
Amazon pays a 60% Royalty Rate to authors that write books and use their services for printing and shipping. Let's pretend your teacher decides to write a book titled Mr. Brown: The 'Finest' Finance Wizard of All and use Amazon to produce and distribute their work.
If your teacher charge users $19.99 to purchase their book and it costs Amazon $4.79 to print, plus an additional $1.99 to ship, how much would they earn if they sold 100 books?
Money Earned from Amazon = $793.00
Earnings leftover after Print & Shipping → $19.99 (-) $4.79 (-) $1.99 = $13.21
Royalty Rate from Amazon → 60% (x) $13.21 = $7.93
Sales → $7.93 Profit (x) 100 Books Sold = $793.00
Michael Stouber holds the record for the most amount of money won on the game show The Price Is Right. How much did he win? (*On the Daytime Record and NOT the $1,000,000 Primetime Record)
A) $95,000
B) $143,000
C) $262,000
D) $398,000
Definition: The very least amount (legally) an employee can be paid while working in the United States
Minimum Wage
Definition: A method of payment where an employee receives a percentage of the amount of sales they generate, such as selling homes
Commission
Let's say you work at a local restaurant, like Peppers, and they pay you $625 every week. Management decides to make a change to everyone's pay schedule and elects to pay their employees every month. What will you earn every month instead?
Monthly Income = $2,708.33
Convert Weekly Earnings to Yearly Earnings → $625 (x) 52 Weeks = $32,500 per year
Convert Yearly Earnings to Monthly Earnings → $32,500 (÷) 12 Months = $2,708.33
You're interested in becoming a realtor and want to earn a living by helping others buy & sell their house. You find a job at Watson Realty and they tell you their commission rates.
If you represent a home buyer and help them find a house for purchase, you earn 2.80% commission. If you represent a home seller and help them find someone else to purchase the house, you also earn a 2.70% commission.
How much would you earn in commission if you represented 4 separate home buyers and 4 separate home sellers, for a total of 8 separate homes? Assume all 4 home buyers wanted to buy their homes for $319,000 each, and the 4 home sellers wanted to sell their homes for $405,000 each.
Commission earned = $79,468
4 Home Buyers → $319,000 (x) 4 (x) .028 = $35,728
4 Home Sellers → $405,000 (x) 4 (x) .027 = $43,740
$35,728 (+) $43,740 = $79,468
If you write down all of the numbers from 1 to 100, how many different times does the digit "1" appear?
21 Times
1, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 21, 31, 41, 51, 61, 71, 81, 91, and 100. (The number 11 counts as "1" appearing two times)
Definition: A business you would visit that has a list of job openings you might be interested in and charges you a fee to help you find a job; typically for long term, full-time positions
Recruitment Agency
Definition: A benefit an employer offers to employees that allows them to take off work and still receive their salary
Paid Time Off (PTO)
You run your own local business, where you host professional video game tournaments for popular games like Call of Duty, Fortnite, and so on. You have 12 full-time employees on staff that assist you for tournament prep and operations.
If you pay each of your 12 employees an annual salary of $42,034.20, how much would you have to pay bi-weekly to all 12 of your employees? (*Not per employee, but all 12 employees combined)
Total Amount Paid Bi-Weekly = $19,400.40
Weekly Payout per Employee → $43,034.20 (÷) 52 weeks = $808.35
Bi-Weekly Payout per Employee → $808.35 (x) every 2 weeks = $1,616.70
Bi-Weekly Payout for all Employees → $1,616.70 (x) 12 Employees = $19,400.40
Question #1: Looking at the table (*link) below, if you earned an annual salary of $53,255 by working at Target, how much money would be deducted from your paycheck to pay for BOTH Social Security and Medicare in 2025?
Question #2: What would you pay towards BOTH Social Security and Medicare if you owned your own business and earned $53,255 for the year?
Use the following link: https://blog.slasify.com/hs-fs/hubfs/Slasify-social-security-medicare.png?width=3840&height=2160&name=Slasify-social-security-medicare.png
Question #1: Amount Deducted (Target) = $4,074.01
Question #2: Amount Deducted (Own Business) = $8,148.02
*What is the total percentage taken off your salary?
Social Security → 6.20% Medicare → 1.45% Combined → 7.65%
$53,255 salary (x) .0765 = $4,074.01
*If you own your own business, you pay DOUBLE for Social Security AND Medicare.
$4,074.01 (x) 2 = $8,148.02
On the popular YouTube Channel, Dude Perfect, 1 of the 5 hosts typically get subjected to spin the dreaded "Wheel Unfortunate" as part of their regular "Overtime" segment. In the episode of Overtime 7, Cory was chosen to spin the wheel and, unfortunately, the arrow landed on "Shave Your Eyebrows." What is the medical term for the loss of your eyebrows or eyelashes?
A) Cephalosis
B) Madarosis
C) Halitosis
D) Borborygmosis
B) Madarosis
Cephalosis → Common term for Headache
Halitosis → Common term for Bad Breath
Borborygmosis → Common term for Gurgling Sounds in the Intestines
**Video Link: https://www.youtube.com/watch?v=rT9PI5q2Etc (*Start at 3:35)
Definition: A payment method where employees are paid based on the number of hours worked.
Hourly Rate, or Hourly Wage
Definition: A method of payment where an employee receives a percentage for someone else using their own intellectual properties, such as writing a book or producing music
Royalty
In Texas, Teachers received a pay raise and went from earning $51,000 annually to earning $59,900 annually. If the School Board is paying teachers bi-weekly, how much more will their paychecks be worth after the pay raise compared to what they were making previously?
Bi-Weekly Paycheck Increase = $342.31
Bi-Weekly Paycheck Before → $51,000 (÷) 26 Weeks = $1,961.54
Bi-Weekly Paycheck Before → $59,900 (÷) 26 Weeks = $2,303.85
Difference Between 2 Paychecks → $2,303.85 (-) $1,961.54 = $342.31
(PART 1 of 2) NFL Quarterback Trevor Lawrence has an annual contract with the Jaguars and will earn $55,000,000. He also earns money from a number of endorsements, which includes:
Adidas: $1 million annually (+) 5% Royalty Bonus*
Gatorade: $500K annually (+) 7% Royalty Bonus*
Bose Audio: $300K annually (+) 3% Royalty Bonus*
Cadillac: $200K annually (+) 4% Royalty Bonus*
*The Royalty Bonus is in addition to his annual contract. So, for instance, Trevor earns $1,000,000 from Adidas annually (+) an additional 5% Royalty Bonus for the year (which is an extra $50,000), making his total payout from Adidas = $1,050,000.
How much will Trevor earn from all of his Royalty Bonuses alone? (*NOT his NFL contract or the annual contracts of Adidas, Gatorade, Bose Audio, and Cadillac themselves. Rather, the Royalty Bonuses he receives from those endorsements.)
Royalty Bonuses = $102,000
Adidas → $1,000,000 (x) .05 = $50,000
Gatorade → $500,000 (x) .07 = $35,000
Bose Audio → $300,000 (x) .03 = $9,000
Cadillac → $200,000 (x) .04 = $8,000
Add all 4 together and you get $102,000
When designing video games, it's common for designers and artists to get along and work well together. However, when it came to the video game, Overwatch, there was one character that split the development team in half, causing controversy, arguments, and so much strife among team members, it nearly caused the game to fold and get completely shut down. What character in Overwatch split the development team in half and almost scrapped the game entirely?
A) Wrecking Ball
B) Hanzo
C) Sombra
D) Roadhog
A) Wrecking Ball
Link to article and video: https://www.pcgamer.com/jeff-kaplan-says-wrecking-ball-was-a-controversial-addition-to-overwatch/
Mr. Brown Highlight playing Wrecking Ball: https://youtu.be/WYTdc474JTQ?si=sF2_iOVV_WUQlL20
Definition: A business you would visit that has a list of job openings and charges you a fee to help you find a job; typically for short term, temporary work
Employment Agency
Definition: An agreement between an individual and a company, where the individual agrees to make regular payments to the company so that if a negative event occurs (i.e. you trip and injure your spine), the individual receives compensation from the company
Insurance
Person #1: Has one job and works 55 hours a week at Wendy's, earning $15 per hour.
Person #2: Has two jobs and works 55 hours a week. During the week, they work 40 hours at Burger King, earning $13 per hour, and 15 hours at Hardee's, earning $14 per hour.
If Person #1 earns time-and-a-half pay for any hours worked past 40 hours / week, while Person #2 earns regular pay for both jobs, what will be the difference in the amount of money they earn after 1 year of full-time work? Assume both individuals work every week for an entire year.
Difference in Pay = $10,790
Person #1 Earnings for 1 Week → [$15 (x) 40 hours] (+) [$22.50 (x) 15 hours] = $937.50
Person #1 Earnings for 1 Year → $937.50 (x) 52 weeks = $48,750
Person #2 Earnings for 1 Week → [$13 (x) 40 hours] (+) [$14 (x) 15 hours] = $730
Person #2 Earnings for 1 Year → $730 (x) 52 weeks = $37,960
Difference between Salaries → $48,750 (-) $37,960 = $10,790
(PART 2 of 2) NFL Quarterback Trevor Lawrence has an annual contract with the Jaguars and will earn $55,000,000. He also earns money from a number of endorsements, which includes:
Adidas: $1 million annually (+) 5% Royalty Bonus*
Gatorade: $500K annually (+) 7% Royalty Bonus*
Bose Audio: $300K annually (+) 3% Royalty Bonus*
Cadillac: $200K annually (+) 4% Royalty Bonus*
*The Royalty Bonus is in addition to his annual contract. So, for instance, Trevor earns $1,000,000 from Adidas annually (+) an additional 5% Royalty Bonus for the year (which is an extra $50,000), making his total payout from Adidas = $1,050,000.
How much will Trevor earn by the end of the year, grand total? This includes his annual salary, his endorsements, AND his Royalty Bonuses.
Annual Earnings = $57,102,000
Contracts → $55,000,000 (+) $1,000,000 (+) $500,000 (+) $300,000 (+) $200,000 = $57,000,000
Adidas → $1,000,000 (x) .05 = $50,000
Gatorade → $500,000 (x) .07 = $35,000
Bose Audio → $300,000 (x) .03 = $9,000
Cadillac → $200,000 (x) .04 = $8,000
Add all everything together and you get $57,102,000
The Jacksonville Jumbo Shrimp won the MiLB Championship in 2025. Which of the following 3 Minor League Baseball Team Names are real:
A) Amarillo Weed Wackers
B) Carolina Disco Turkeys
C) Rocket City Trash Pandas
D) Fort Myers Mighty Mussels
E) Montgomery Merry Munchers
F) Albuquerque Alien Abductors
B) Carolina Disco Turkeys
C) Rocket City Trash Pandas
D) Fort Myers Mighty Mussels