1. Wages and Overtime Pay
GED® Algebra for Money & Business: Real-World Math · preview lesson
Your paycheck is an algebra formula. Regular pay is the hourly rate times hours worked:
\[ \text{pay} = (\text{rate}) \times (\text{hours}). \]
Worked example: At $16 per hour for 38 hours, pay is \(16 \times 38 = 608\) dollars.
Overtime usually pays "time and a half" — 1.5 times the hourly rate — for hours beyond 40. Total weekly pay becomes
\[ P = 40r + 1.5r \cdot (h - 40), \]
where \(r\) is the rate and \(h\) is total hours (for \(h > 40\)).
Worked example: $20 per hour for 46 hours. Regular pay is \(40 \times 20 = 800\). Overtime is 6 hours at \(1.5 \times 20 = 30\) per hour, so \(6 \times 30 = 180\). Total: \(800 + 180 = 980\) dollars.
Tip: split the week into the first 40 hours at the normal rate and the rest at the overtime rate, then add.
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