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Consumer Math Ch. 1

Chapter 1 vocab

QuestionAnswer
Hourly Rate A certain amount of money for each hour worked.
Wages The money you get on payday.
Annual wages The yearly amount of money you make per year.
Estimate To make an educatated guess.
A.M. Morning hours
P.M. Afternoon or evening hours
Hour 60 minutes
Minuyte 60 seconds
Overtime Hours worked over 40 per week.
Per For or each
Time and a half 1.5 times the regular hourly rate.
Double Time 2 times the regular hourly rate.
Tip Extra money from people who appreciate your service.
Piecework Work paid according to the number of units completed.
Key digit The number to be rounded.
Salary A fixed amount of money to be paid from your job.
Biweekly Every 2 weeks
Semimonthly Twice a month
Bimonthly Every two months
Quarterly Every 6 months
Semiannually Every 6 nmonths
Percent Part per 100
Percentage An amount calculated by multiplying a percent times a number.
Commission Paid a percentage of your sales.
Gross Pay Total amount of money earned before taxes are taken out.
Deductions Money taken out of your paycheck. (Taxes, Social Security, Dues, Retirement Plans)
Take-home of Net Pay The money you get afterr deductions are taken out.
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