WARMUP Helen took a job through an employment agency. The job pays $425 per week. She must pay a fee to the employment agency. The fee is 18% of her first three weeks’ pay. How much money must Helen pay the agency? Kinkos charges $35 to print the first 200 color pages. Each additional set of 50 copies costs $15. How much would it cost to get 500 copies?

6-2 PAY PERIODS AND HOURLY RATES Banking 8/7/2018 6-2 PAY PERIODS AND HOURLY RATES Learning Targets Compute weekly, semimonthly, and biweekly earnings given annual salary. Compute hourly pay and overtime pay given an hourly rate. Chapter 1

Standards MMFA1. Students will use basic functions to solve and model problems related to employment and taxes

Pay Periods What is the difference between semimonthly and biweekly pay periods? weekly biweekly semimonthly monthly

Example 1 Christina is paid biweekly. Her annual salary is $37,000. What is her biweekly salary, rounded to the nearest cent? Example 2 Manny is paid semimonthly. His semimonthly salary is $1,239. What is his annual salary?

EXAMPLE 3 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? EXAMPLE 4 Roger regularly works 30 hours per week at a rate of $11.55 per hour. What is his annual salary?

EXAMPLE 5 If Maureen from Example 3 works overtime, she receives an hourly rate of 1½ times her regular hourly rate. What is Maureen’s hourly overtime rate? EXAMPLE 6 If Mary Ann earns $9.75 per hour regularly, what is her hourly overtime rate if she is paid time-and-a-half?

EXAMPLE 7 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. EXAMPLE 8 Ron regularly works 40 hours per week, at a rate of $13.25 per hour. Last week he worked 52 hours. What was his total weekly pay?

CHECK YOUR UNDERSTANDING Using Example #8, express Ron’s pweekly pay as a piecewise function.

EXAMPLE 9 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? EXAMPLE 10 Jillian worked her 40 regular hours last week, plus 4 overtime hours at the time-and-a-half rate. Her gross pay was $484. What was her hourly rate?

EXAMPLE 11 Last week, Saul worked 40 regular hours and 6 hours on a holiday at a double time rate. He earned $700. What is his hourly rate?