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3 December, 10:58

If I make 11.50 an hour working full time (40 hours a week) how much money do i make a year after deducting 60 dollars of taxes from my pay check every month? (Keep in mind, some months have 4 weeks and some have 5 wks and I get paid bi-weekly not semi monthly)

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  1. 3 December, 11:06
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    Given:

    hourly rate = 11.50

    hours worked in a week = 40 hours

    taxes per moth = 60

    Every month may be 4 weeks or 5 weeks but we know that 1 year has 52.1429 weeks.

    Let us compute for the whole year:

    Earnings:

    11.50 / 1 hour * 40 hours/1week * 52.1429 weeks/1year

    = 11.50 * 40 * 52.1429/year

    = 23,985.734 per year

    Taxes:

    60 / per month * 12 months / 1 year

    = 60 * 12/year

    = 720 per year

    Net earning per year

    23,985.734 - 720 = 23,264.734

    Net earning per month

    23,264.734 : 12 months = 1,938.81

    You will earn 23,264.73 annually from a monthly earning of 1,938.81
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