You need to earn $475/wk to afford your new car. Your work week is 45 hrs & you get 1.5 time the regular hourly rate for any time over 40 hrs. How much do you need hourly?
Let x = hourly wage
40x + 5(1.5x) = 475
40x + 7.5x = 475
47.5x = 475
x = $10/hour
Answer this question for me!!,
To calculate the hourly rate needed to earn $475 per week, we need to consider both the regular hourly rate and the overtime rate. Let's break down the calculation step by step:
1. Calculate the regular weekly earnings without overtime:
- From the given information, we know that the work week is 45 hours.
- Since the regular work week is typically 40 hours, we subtract 40 from 45 to determine the number of overtime hours: 45 - 40 = 5.
- Multiply the regular hourly rate by the number of regular hours worked: Regular hourly rate × 40 hours.
- Let's call the regular hourly rate "R." The regular weekly earnings without overtime can be represented as R × 40.
2. Calculate the overtime earnings:
- We know that you receive 1.5 times the regular hourly rate for any time worked over 40 hours.
- Multiply the regular hourly rate by the overtime hours (5 hours) and then multiply the result by 1.5: R × 5 × 1.5.
- This represents the amount earned from the overtime hours.
3. Calculate the total weekly earnings:
- Add the regular weekly earnings without overtime to the overtime earnings: (R × 40) + (R × 5 × 1.5) = $475.
Now, we can solve for the regular hourly rate (R) using the equation:
(R × 40) + (R × 5 × 1.5) = $475
Let's simplify the equation step by step:
40R + (5 × 1.5)R = $475
40R + 7.5R = $475
47.5R = $475
R = $475 / 47.5
R = $10
Therefore, you need an hourly rate of $10 in order to earn $475 per week.