Finance Math

The amount you receive on a paycheque after deductions have been taken off

• gross pay

• commission

• net pay

• piecework pay

The EI on $45 000 gross income (including vacation pay) is:

• $747.00

• $2565.00

• $655.70

• $2365.50

Devin earns $15/h, and works 32h a week. If he is paid bi-weekly, how much is each pay?

• $960

• $1050

• $480

• $1920

How many hours did this employee work Mon & Tues?

• 17

• 18

• 19

• 20

Spencer makes $10/h. This week, he works 20 hours. He and 3 other servers split $525 in tips. What is his weekly pay?

• $375.00

• $331.25

• $200.00

• $175.00

Calculate the total annual CPP deductions for someone who makes $1430 gross per week (including vacation).

• 4039.02

• 4216.17

• 4238.52

• 3230.00

A fixed amount of money paid to a worker on a monthly or annual basis

• hourly wage

• salary

• commission

• bonus

You are paid biweekly. To find your gross pay for each paycheque you would divide your annual income by:

• 52

• 12

• 24

• 26

Net pay is:

• 4% of gross pay

• gross pay + vacation pay

• gross pay - deductions

• gross pay divided by 12

Jake makes $16/hr and time-and-a-half when he works more than 40 hours a week. How much would he make in gross pay for a biweekly paycheque after working 44 hours each week

(do not include vacation pay)?

• $528.00

• $1056.00

• $736.00

• $1472.00