Consumer Math 20S (Fall 2007)

Wednesday, October 31, 2007

net pay

Today we started the class in grouping and we got three problem to solve the title are Summer Wages, everyone has to pay their dues, and what does Mary Rose take Home.

I want to show the solution of this problem "what does Mary Rose take home", I found this problem is to helpful to me I hope you guys do to.

This is the problem and solution..........

What Does Mary Rose Take Home?
Mary Rose works part time and is paid $500.00 gross pay semi-monthly.For her wages she estimates her CPP contribution to be about 3% of her gross pay, her EI contribution to be about 2% of her gross pay, and her income tax about 20%.

(a) Find Mary Roses' estimated total deductions and net pay.
(b) Find Mary Roses' actual total deductions and net pay.

a) 3%/100%=0.03 2%/100%=0.02 20%/100%=0.2
0.03 * $500.00=$15 0.02*$500=$10 0.2*$500=$100

CPP=$ 15 $ 500 b) $500 $500
EI=$ 10 -$ 125 CPP=$ 17.53 -$140.33
FT=$ 100 ______ EI=$ 66.80 _______

PT=$ 100 $ 375/net pay FT=$ 47.00 $359.67/net pay
_______ __________
$ 225 $140.33

The next scribe will be jay........

Today's Slides: October 31

Here they are ...

| View | Upload your own

Blogging on Blagging

This is my Blogging on Bogging, in our last lesson about wages and salaries; I learn a lot of things. for example: how much money a worker earn if she/hi work in this hours: M-9, T-9, W-8, TH-7, F-10 and his/her wages per hour is $12.00

Solution:

* add all the hours
9+9+8+7+10 = 43 hours
* multiply the total hours to the wages per hour
$12.00x43 hours=$516.00
then the total salaries that the worker eared is $516.00

This lesson in wage and salaries is really gonna help us in our day to day especially the working student.

Tuesday, October 30, 2007

Today's Slides: October 30

Here they are ...

| View | Upload your own

Monday, October 29, 2007

Choosing the best option in rising the hourly wage

In our lesson, we didn't do mental math as we usually do instead Mr. K group us into six group. Then Mr. K gave us a problem to solve. The question is about finding the new salary if a worker get a percent rise or a dollar rise in a regular wage,and which option is better take, for example:

The manager give the employee a two option to choose to rise their regular hourly wage, first option, additional $3.00 for every hours a worker work and the second option is 25% rise of their regular wage every hour. The worker regular wage per hour is $10.00.Which option should a worker take to rise his regular wage more higher?

solution:

option 1

hourly wage + additional pay= new hourly wage
$10.00 + $3.00= $13.00

option 2

percent rise/100%= decimal answer
25%/100%= 0.25
(decimals)(hourly wage)=additional pay
0.25 x $10.00= $2.50
hourly wage + additional pay=new hourly wage
$10.00+ $2.50= $12.50

The worker should choose the first option because his regular hourly wage rise $3.00 than the second option that only rise by $2.50.

goodluck in the test!!!!!!!!!!!!!!

the next scribe will be........................................JAY