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)

Question

Arias

Mathematics

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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Answers (1)

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Misael Madden · Answer 1

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