AdminKeymaster
December 30, 2020 at 9:20 pm
Post count: 1622
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Chris earns $1354.68 before tax is taken out each fortnight.
a. Calculate Chris’ gross annual income.
b. Chris takes 4 weeks annual leave and is entitled to a 17½% holiday loading on these four weeks. Calculate Chris’ total holiday pay.
c. From his fortnightly pay packet Chris puts aside $380 for food, $80 for car expenses and $150 for household expenses. In addition his weekly rent is $250. Based on this, how much will Chris have left out of his fortnightly pay?
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| a. 1354.68 × 26 = $35 221.68 |
there are 26 fortnights in a year, to find the annual salary, multiply the fortnightly salary by 26 |
b. 2 × 1354.68 = $2709.36
loading = $2709.36 × 17½%
= $474.14
total = $2709.36 + $474.14
= $3183.50 |
4 weeks = 2 fortnights, so find 4 weeks pay
17½% holiday loading: find 17½% of the 4 weeks of pay
total holiday pay = 4 weeks pay + loading
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c. 1354.68 – 380 – 80 – 150 – (2 × 250)
= $244.68 |
to find what is left out of his fortnightly pay, subtract all of his expenses, and read carefully, noting that the rent is for only 1 week, so must be multiplied by 2 so it covers the fortnight period |
