Andy earns a salary of £24108 each year.
a) Estimate how much Andy earns per month.
b) Andy is hoping to get a bonus this year. The bonus is calculated as £1017 plus 9.7% of each worker's annual salary. Estimate the amount of Andy's bonus.
c) Andy pays 10.14% of his regular salary into a pension scheme. Estimate how much of his salary he has left per year after making his pension payments.
a) To estimate how much Andy earns per month, you divide his annual salary by the number of months in a year.
£24108 / 12 = £2009 per month
b) To estimate Andy's bonus, you calculate 9.7% of his annual salary and add it to the fixed bonus amount of £1017.
9.7% of £24108 = £2338.14
£1017 + £2338.14 = £3355.14
Andy's bonus is approximately £3355.14.
c) To estimate how much of Andy's salary he has left after making pension payments, you subtract the percentage he pays into the pension scheme from his regular salary.
10.14% of £24108 = £2445.59
£24108 - £2445.59 = £21662.41
Andy has approximately £21662.41 of his salary left after making pension payments each year.