Answer to Question #109156 in Financial Math for Aaron

Question

Jasmine’s normal pay is $7486 per week. She is entitled to a 17½% annual leave loading.
What is her hourly rate of pay if she works a 38-hour week?
What is her holiday pay if she takes two weeks’ leave?

Answer 1

1)n_hour=38 (at week)

pay_{per week}=7486 dollars

rate_hourly=pay_{per week}/n_hour=197 dollars/hour

2)pay_extra=pay_per week * 2 * 17.5 %

She will receive regular payments together with an extra 17.5% of these payments for a leave

pay_extra=$2620.1.

pay_twoweek=$7486*2= $14972.

pay_holiday=pay_twoweek+pay_extraholiday=$17592.1.