Compute hourly rate and overtime rates as follows: Carry the hourly rate and the overtime rate to
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Question:
Compute hourly rate and overtime rates as follows:
Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).
If the third decimal place is 5 or more, round to the next higher cent.
If the third decimal place is less than 5, drop the third decimal place.
Use the minimum hourly wage of $7.25 in solving this problem.
Gates is paid a semimonthly salary of $900.00. Overtime is paid for hours beyond 40 in each workweek.
One week, Gates works 6 3/4 hours overtime. Gates' pay for this semimonthly pay period is _____.
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