warm up 2345 x.12 2345 x.12 2345 + 3456 2345 + 3456 1234 x.19 1234 x.19 1234 + 2345 1234 + 2345

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2345 x .122345 x .12 2345 + 34562345 + 3456 1234 x .191234 x .19 1234 + 23451234 + 2345

Consumer Consumer FinanceFinance

Chapter 1: Earning MoneyChapter 1: Earning Money

Lesson 12: Salary Plus Lesson 12: Salary Plus CommissionsCommissions

VOCABVOCAB NoneNone

DIRECTIONS (Salary + DIRECTIONS (Salary + Commission)Commission)

Change % to decimalChange % to decimal Move the decimal 2 spots LEFTMove the decimal 2 spots LEFT

Calculate commissionsCalculate commissions Multiply Multiply

Sales x Rate of Commissions = COMMISSIONSSales x Rate of Commissions = COMMISSIONS

AddAdd Salary + COMMISSIONSSalary + COMMISSIONS

Salary / the number of times each thing Salary / the number of times each thing happenshappens

I DO (Salary + I DO (Salary + Commissions)Commissions) Find how much each person makesFind how much each person makes

SalesSales ROCROC SalarySalary1.1.$30000$30000 4%4% $500$5002.2.$120000$120000 2.5%2.5% $300$3003.3.$25000$25000 5%5% $12000$120004.4.$45000$45000 3.5%3.5% $20000$20000

WE DO (Salary + WE DO (Salary + Commissions)Commissions)

Find how much each person makesFind how much each person makesSalesSales ROCROC SalarySalary1.1.$300000$300000 4.7%4.7% $250$2502.2.$670985$670985 6.6%6.6% $150$1503.3.$35500$35500 7.5%7.5% $30000$300004.4.$65985$65985 5.5%5.5% $26500$26500

YOU DO (Salary + YOU DO (Salary + Commissions)Commissions)

Find how much each person makesFind how much each person makesSalesSales ROCROC SalarySalary1.1.$90985$90985 5.4%5.4% $200$2002.2.$28540$28540 3.2%3.2% $475$4753.3.$34985$34985 7.9%7.9% $27750$277504.4.$47750$47750 8%8% $35500$35500

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Today we learned how to calculate a Today we learned how to calculate a persons salary plus commissionspersons salary plus commissions

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5230 + 36155230 + 3615 3987 + 38763987 + 3876 4567 – 48924567 – 4892 5123 - 54325123 - 5432

CONSUMER FINANCECONSUMER FINANCE

Chapter 1: Earning MoneyChapter 1: Earning Money

Lesson 13: Net PayLesson 13: Net Pay

VOCABVOCAB

Gross Pay – is your full earnings Gross Pay – is your full earnings (before taxes)(before taxes)

Deductions – is money withheld from Deductions – is money withheld from your paycheckyour paycheck

Net Pay – is the amount of money Net Pay – is the amount of money you take home (after taxes)you take home (after taxes)

Directions (Net Pay)Directions (Net Pay)

Gross Pay – All deductionsGross Pay – All deductions

I DO (Net Pay)I DO (Net Pay)

Gross Pay Fed Tax State Tax S.S. Medicare Health

600 96.80 32.97 37.20 8.70 41.63

500 60.07 24.95 31 7.25 39.37

403 45.52 19.62 24.99 5.84 26.60

776.97 118.62 38.95 48.11 11.25 53.88

Calculate the persons Net Pay

WE DO (Net Pay)WE DO (Net Pay)

Calculate the persons Net PayCalculate the persons Net PayGross Pay

Federal Tax

State Tax S.S. Medicare Health

120.75 10.54 6.63 7.94 1.75 0

360.56 46.43 19.78 22.32 5.22 5

1235.50 210 36.30 42.95 98.75 21.25

3425.75 512.24 275.50 35.56 89.75 12.35

YOU DO (Net Pay)YOU DO (Net Pay)

Calculate the persons Net PayCalculate the persons Net PayGross Pay

Federal Tax

State Tax

S.S. Medicare

Health

2500 750.50 110 205 35.50 47.50

750.50 123.54 75.25 31.35 12.50 0

1345.56 235.75 34.56 45.67 56.78 0

2345.67 850.50 123.45 97.45 85.50 56.50

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What did you learn today?What did you learn today?

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