Financial Math -- Lesson 1-4 Vocabulary

Front

A measure of time equal to 60 minutes

Back

hour

Front

Money earned by an employee in one year

Back

Annual wages

Front

Payment of two times the regular hourly rate

Back

Double time

Front

Working time beyond a regular 40 hour work week

Back

Overtime

Front

To express time in a form that is equal to the original; for example, 1 hour = 60 minutes

Back

Renaming Hours

Front

The amount of money paid for each hour of work

Back

Hourly rate

Front

The total amount of money earned before any deductions

Back

Gross pay

Front

The total amount of money earned after deductions such as taxes

Back

Net pay

Front

A payment made to an employee based on the sales they generate

Back

Commission earnings

Front

The standard number of hours in a full-time work week

Back

40 hours