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Math Finance C06-L2

Wirtz Math Finance Chapter 6 Lesson 2

weekly (C06L2 p296) Once per week.
biweekly (p156, C06L2 p296) Every two weeks.
semimonthly (C06L2 p296) Two times a month.
monthly (C06L2 p296) Twelve times a year.
direct deposit (p116, C06L2 p296) Payroll or other types of checks that are directly and electronically deposited into a bank account.
hourly rate (C06L2 p296) a set amount that an employee is paid for each hour of work
regular hours (C06L2 p297) The set number of hours that an employee is expected to work.
overtime hours (C06L2 p297) The extra hours an employee works beyond their regular hours.
overtime hourly rate (C06L2 p297) The hourly wage an employee receives for any overtime hours.
time-and-a-half overtime rate(C06L2 p297) The hourly rate an employee usually gets paid for overtime hours.
double-time pay (C06L2 p297) An overtime rate that is two times the hourly rate.
gross pay/income (C06L2 p297, p344, 1.2) The total pay, which is the sum of an employee's hourly pay and overtime pay. Or wages or salary before deductions for taxes and other purposes.
minimum wage (C06L2 p297) The hourly rate that federal law allows as the least hourly rate to be paid to an employee in the United States.
Created by: shelley.wirtz