1. Chapter 6: Employment Basics Sunday, November 11, 2018
Financial Algebra
Chapter 6:
Employment Basics
Sunday, November 11, 2018

2. Employment Basics, Ch 6.1: Learning Objectives
Students will be able to:
Understand the concept of a function and use function notation
Create equations that describe numbers or relationships
Demonstrate understanding of Key Term vocabulary beyond simple definition
Compute periodic salary based on annual contract salary
Express job ad prices as piecewise functions
Chapter 6.1 Looking for Employment

3. Basic Math Vocabulary Terms
Function—a mathematics relationship or expression involving one or more variables
Variable—A symbol for a number we don't know yet, usually a letter like x or y.
Example: x + 2 = 6; x is the variable
f(x)—read this “f of x”; a functional notation of an equation
Y = 2x+ 2 written in function notation is f(x) = 2x + 2
Chapter 6.1 Looking for Employment

4. Chapter 6.1 Looking for Employment
Order of Operations
Order of operations—the order in which you should simplify different operations such as addition, subtraction, multiplication and division; dictates what you do first.
The Order of Operations must be:
Parentheses and Brackets—Simplify the inside of parentheses and brackets before you deal with anything outside
Exponents—Simplify the exponent of a number or of a set of parentheses before you multiply, divide, add, or subtract it.
Chapter 6.1 Looking for Employment

5. Chapter 6.1 Looking for Employment
Order of Operations
Order of operations—the order in which you should simplify different operations such as addition, subtraction, multiplication and division; dictates what you do first.
The Order of Operations must be:
Multiplication and Division—Simplify multiplication and division in the order they appear from left to right.
Addition and Subtraction—Simplify addition and subtraction in the order they appear from left to right.
Do worksheet
Chapter 6.1 Looking for Employment

6. Where can you find out about job openings?
Brainstorm with a partner
Print newspapers
Company websites
Online newspapers
Employment agencies
Online job boards
Networking
List some examples
Friends
Which one is the best method?
Networking—why?
Chapter 6.1 Looking for Employment

7. Where can you find out about job openings?
Employment agencies—A business that connects employers to job seekers—for a fee/$
Networking—
Interacting with other people to exchange information and develop contacts, especially to further one's career
NOTE: can have an informal friend network or a professional contacts network,
e.g. Facebook vs. LinkedIn
Chapter 6.1 Looking for Employment

8. What 3 items do you need to apply for a job?
Brain storm with a partner
Resume
Cover Letter
Application
Define résumé:
Chapter 6.1 Looking for Employment

9. Do you have a current Résumé?
Define résumé:
Basically means “summary” (reSUMe)
A document used by persons to present their backgrounds, skills, education and experience to others
A resume is a concise, persuasive and focused marketing tool designed to get you an interview
Comparable to a curriculum vitae (CV) in international countries but much shorter
Chapter 6.1 Looking for Employment

10. Chapter 6.1 Looking for Employment
Main parts of a Résumé?
What are the main parts of a résumé?
Contact information
Education
Work Experience
Skills
Achievements
Relevant Personal Activities
Assignment: Turn in a copy of your resume by Monday, Sept. 14th
Chapter 6.1 Looking for Employment

11. After You Are Hired

12. Chapter 6.1 Looking for Employment
After You Are Hired
W-4 Form—Used by employers to determine how much income tax to withhold
W-2 Form—annual statement by employer that documents total salary and total withholdings; used to file your tax return
Dependents—the number of individuals who you provide for financially
Chapter 6.1 Looking for Employment

13. Paycheck Vocabulary Terms
Periodic Salary—the interval (or period) you get a paycheck, e.g., weekly, bi-weekly or monthly
Gross Pay—salary before any deductions or withholdings (taxes) are taking out of a paycheck
Net Pay—salary after all deductions and taxes are taken out of paycheck, AKA take home pay
Commissions—extra salary based on customer sales, usually % of sales price
Chapter 6.1 Looking for Employment

14. Sample Paycheck Teach gross pay vs. net pay Teach garnish
Teach commissions, bonus (non-repeating pay)
Teach origin, purpose, repurpose and safety of social security number
Sample Paycheck

15. Chapter 6.1 Looking for Employment
After You Are Hired
Benefits—Salary isn’t the only thing to consider
Definition—additional compensation from employer including:
Health, Vision and Dental care
Education reimbursements
Vacation Pay
Child Care expenses
Holiday Pay
Life Insurance
Sick Leave Pay
Disability Insurance
Retirement contributions
Auto/Parking allowance
401k
Travel allowance
Stock options
Bonus & Commissions
Chapter 6.1 Looking for Employment

16. Paycheck Vocabulary Terms
Withholdings—taxes & other money government takes out of your paycheck
401K plan—savings taken out of paycheck before taxes; lowers your gross pay; you pay taxes on this savings when you are much older and have a lower tax rate
Social Security—a tax used to pay retired people an income based on how much they paid into system
Chapter 6.1 Looking for Employment

17. Vocabulary Quiz Employment Agencies Gross Pay Networking Net Pay
Résumé
Commissions
W-4 Form
Benefits
W-2 Form
Withholdings
Dependents
401K
Periodic Salary
Social Security

18. Chapter 6.1 Looking for Employment
Example 1a
Problem:
Julianne found a job that pays an annual salary of $41K. How much will this job pay per week?
Terms:
K—1,000
$20K = $20,000
Easier, shorter to write
Annual—once every year or yearly
Chapter 6.1 Looking for Employment

19. Chapter 6.1 Looking for Employment
Example 1a
Problem:
Julianne found a job that pays an annual salary of $41K. How much will this job pay per week?
Facts:
$41,000 annual salary
52 weeks per year
Answer:
x = $41,000 / 52 weeks
x = 41000/52
x = $788.46
Julianne will earn $ per week
Gross – avg. tax rate – other withholdings = net pay
– (18% to 25%) =~$ or ~$ in taxes/withholdings
Chapter 6.1 Looking for Employment

20. Chapter 6.1 Looking for Employment
Example 1b
Problem:
Julianne found a job that pays an annual salary of $41K. How much will this job pay per month?
Facts:
$41,000 per year
12 months in a year
X = monthly salary
Setup: x = $41,000 ÷ 12 months
x = / 12
Answer: x = $3,416.67
Julianne will earn $3, per month
Chapter 6.1 Looking for Employment

21. Chapter 6.1 Looking for Employment
Your Turn
Problem:
Karen found a job with an annual salary of $67.3K. What is her monthly paycheck before deductions?
Answer:
x =$67,300 ÷ 12 months x = / 12
x = $ $ monthly gross annual salary
Chapter 6.1 Looking for Employment

22. Chapter 6.1 Looking for Employment
Your Turn, p.294
Do the following questions; be sure to write out all steps and explain your reasoning: #2 #3
Chapter 6.1 Looking for Employment

23. Chapter 6.1 Looking for Employment
Piecewise Function
Terms:
Piecewise function = gives a set of rules for each domain of the function
AKA: split function
If function in MS Excel
Cost of x, c(x), is computed differently depending on the value of x
Example:
Turn to page 220
Chapter 6.1 Looking for Employment

24. Chapter 6.1 Looking for Employment
Piecewise Function
“Express the cost of an ad with x lines as a function of x algebraically”
Jason needs a formula for ad costs
Charges $42.50 for first five lines for an ad
Charges $7 for each additional line in the ad
Will need 2 rules
5 or fewer lines, <5
6 or more lines, >5
Let c(x) represent cost of the ad
Chapter 6.1 Looking for Employment

25. Chapter 6.1 Looking for Employment
Piecewise Function
c(x) = $ when x ˂ 5
c(x) = $ $7(x - 5) when x ˃ 5
$ when x ˂ 5
$ $7(x - 5) when x ˃ 5
Chapter 6.1 Looking for Employment

26. Chapter 6.1 Looking for Employment
Your Turn, p. 220 (bottom)
Problem:
The Renton Reporter charges $38 for an ad that is 4 or fewer lines. Each line above four lines costs an additional $6.25.
Express the cost of an ad a piecewise function.
Answer:
If x = number of lines, then
$ when x ˂ 4
$ $6.25 (x - 4) when x ˃ 4
Chapter 6.1 Looking for Employment

27. Chapter 6.1 Looking for Employment
Your Turn, p.221
Problem:
If x is the number of lines in an ad, use words to express the price of an ad in this situation.
Answer:
An ad will cost $41.55 for the first six lines, plus $5.50 for each additional line.
$ when x ˂ 6
$ $5.50 (x - 6) when x ˃ 6
Chapter 6.1 Looking for Employment

28. Chapter 6.1 Looking for Employment
Your Turn, p.221
Problem:
If x is the number of lines in an ad, use words to express the price of an ad in this situation.
Answer:
An ad will cost $60.00 for the first five lines, plus $8.00 for each additional line over five.
60 when x ˂ 5
(x - 5) when x ˃ 5
Chapter 6.1 Looking for Employment

29. Chapter 6.1 Looking for Employment
Your Turn, p.292
Check your understanding, p. 292 (bottom)
Extend your understanding, p. 292
Check your understanding, p. 293 (bottom)
Chapter 6.1 Looking for Employment

30. Chapter 6.1 Looking for Employment
p. 292 Answer
Check Your Understanding
Extend Your Understanding
13x when x ˂ 4
(x - 4) when x >4
kx when x ˂ 4
k (x - 4) when x > 4
Chapter 6.1 Looking for Employment

31. Page 293, Example 5
Jane’s Printing Services charges $29.95 to print 200 high quality copies of a one-page resume. Each additional set of 100 copies costs $14.00.
Express the cost, c(x), of printing x sets of 100 resumes as a piecewise function.

32. p. 293 Check Your Understanding
Example 5: determine price per one resume
29.95 / 200 = = 0.15 = 15¢
Determine total price for only buying 77 resumes
77 * 0.39 = 30.03
He should get 200 copies for $29.95 or $0.15 each. If he only get 77 copies at $0.39 each, he will pay $30.03.
Extend: write an inequality statement
Good: $0.15 < $0.39 or $29.95 < $30.03
Better: $30.03 > $29.95
Chapter 6.1 Looking for Employment

33. Chapter 6.1 Looking for Employment
p. 293, Answer
Extend Your Understanding
13 when x ˂ 4
(x - 4) when x ˃ 4
He should get 200 copies for $29.95 or $0.15 each. If he only get 77 copies at $0.39 each, he will pay $30.03.
29.95 / 200 = = 0.15 = 15¢
77 * 0.39 = 30.03
$0.15 < $0.39 or $29.95 < $30.03
Chapter 6.1 Looking for Employment

34. Chapter 6.1 Looking for Employment
Your Turn, p.294-5
Do the following questions; be sure to write out all steps and explain your reasoning: #2 #9 #3
#11a-#11d
#7a-#7e
#13a, #13b
#8a, #8b
Plus vocabulary quiz on 14 words
Chapter 6.1 Looking for Employment

35. Vocabulary Quiz Employment Agencies Gross Pay Networking Net Pay
Résumé
Commissions
W-4 Form
Benefits
W-2 Form
Withholdings
Dependents
401K
Periodic Salary
Social Security