why is my python code not running. i need help fixing it$.$

print$("$Pay calculator will give your paycheck amount based on your pay rate and hours worked. Overtime is calculated at time and a half."$)$

payRate $=$ float$($input$(\text{'}$Enter your pay rate per hour:

$\text{'}))$

totalHours $=$ float$($input$(\text{'}$Enter the amount of hours worked:

$\text{'}))$

if totalHours $<=40$:

totalPay $=$ totalHours $*$ payRate

else:

otHours $=$ totalHours $-40$

regHours $=$ totalHours $-$ otHours

totalPay $=($otHours $*$ payRate $*1\mathrm{.}5)+($regHours $*$ payRate$)$

print$(\text{'}$Your paycheck will be: $$\text{'},"\{$:$\mathrm{.}2$f$\}".$format$($totalPay$))$