2.

In all problems, unless instructed otherwise, compute hourly rate and overtime rates as follows:

1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places.

2. If the third decimal place is 5 or more, round to the next higher cent.

3. If the third decimal place is less than 5, drop the third decimal place.

Maggie Peters earns $2,200 each month and works 40 hours each week. One week Maggie worked 44 hours. Calculate:

a) Regular earnings for the week:

b) Overtime earnings for the week:

c) Total earnings for the week:

Calculate the hourly rate for each of the following. Assume a 40-hour work week.

$29,800 per year

$1280 bi-weekly

$1680 per month

$612 per week