$$$.  How much a person earns is usually expressed as an annual amount. For example, $36 000 annually  Annual = 1 year = 12 months = 52 weeks  However,

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Presentation transcript:

$$$

 How much a person earns is usually expressed as an annual amount. For example, $ annually  Annual = 1 year = 12 months = 52 weeks  However, people are paid their wages on a regular schedule throughout the year. They may receive their pay monthly or bi-weekly  Monthly= Every 4 Weeks  Bi-Weekly= Every 2 weeks (26 pay periods)

 You have a job in which you earn $ annually (per year).  How much money do you earn on a monthly basis?  How much money do you earn on a bi-weekly basis?

 The money earned is expressed as an amount before deductions. This is known as Gross Pay  The money earned after deductions is known as Net Pay or Net Income  Calculation: Gross Pay – Deductions = Net Pay

 Navneet earns $ per week at her part- time job. 10% of her pay goes to Federal income tax. What is her take-home (net pay)?

 According to Black Widow, students should allocate their earnings in the following manner:

 Complete the handout