You are trying to increase your monthly savings to buy a used car. Your boss allows you to work one hour of overtime time and half 5 days per week. Your regular wage is $12.00 per hour. You want to save $3,000 for your car. Approximately how many weeks must you work with the extra hour per day to reach your goal?
To calculate this, we first need to determine how much you will earn with the overtime hours.
Regular wage: $12.00 per hour
Overtime rate: $18.00 per hour
Extra earnings per day = $18.00 - $12.00 = $6.00
Extra earnings per week = $6.00 x 5 days = $30.00
If you want to save $3,000 and you are earning an extra $30 per week, you can calculate the number of weeks needed to reach your goal:
Number of weeks = $3,000 / $30 = 100 weeks
Therefore, you would need to work approximately 100 weeks with the extra hour per day in order to save $3,000 for your car.