To calculate this, we first need to determine how much you will earn with the overtime hours.
Regular wage: $12.00 per hour
Overtime rate: $18.00 per hour
Extra earnings per day = $18.00 - $12.00 = $6.00
Extra earnings per week = $6.00 x 5 days = $30.00
If you want to save $3,000 and you are earning an extra $30 per week, you can calculate the number of weeks needed to reach your goal:
Number of weeks = $3,000 / $30 = 100 weeks
Therefore, you would need to work approximately 100 weeks with the extra hour per day in order to save $3,000 for your car.
You are trying to increase your monthly savings to buy a used car. Your boss allows you to work one hour of overtime time and half 5 days per week. Your regular wage is $12.00 per hour. You want to save $3,000 for your car. Approximately how many weeks must you work with the extra hour per day to reach your goal?
1 answer