my present salary is $1,560.00. I was offered a new position at $8.60 per hour with 1 1/2 hrs pay for overtime after 40 hours of work per weeke. How man hours of overtime per week would I need to earn the $390.00 per week.
8.60 * 40 = 344
390 - 344 = 46
8.60 * 1.5 = 12.90
46/12.90 = ?
3.5
To calculate the number of hours of overtime you would need to earn $390.00 per week, we need to break down the components of your new position.
First, let's determine your base pay per week. Multiply the hourly wage ($8.60) by the regular number of hours worked per week (40 hours):
Base pay per week = Hourly wage * Regular hours worked per week
Base pay per week = $8.60 * 40 hours = $344.00
Next, let's calculate the overtime rate per hour. Since you mention that you receive 1 1/2 times your regular rate for overtime, we multiply the regular hourly wage by 1.5:
Overtime rate per hour = Hourly wage * 1.5
Overtime rate per hour = $8.60 * 1.5 = $12.90
Now, we can determine how much your total earnings would be, including overtime, in order to reach $390.00 per week. This can be achieved by subtracting your base pay from the desired total earnings:
Overtime earnings per week = Desired total earnings per week - Base pay per week
Overtime earnings per week = $390.00 - $344.00 = $46.00
Lastly, divide the overtime earnings per week by the overtime rate per hour to find out the number of hours of overtime you would need to work:
Number of hours of overtime per week = Overtime earnings per week / Overtime rate per hour
Number of hours of overtime per week = $46.00 / $12.90 ≈ 3.56 hours
Therefore, you would need to work approximately 3.56 hours of overtime per week to earn $390.00 in total.