AMDM Foldable.notebook January 17, 2013 Gross Pay Straight Time Straight time = number hours worked x hourly rate Overtime Rates: 1.5 = time and a half 2 = double time Chapter 1 Overtime pay = $ per hour x rate x # hours worked over regular hours Total Pay = straight time pay + overtime pay Need three 1/4 sheet folded towards the center into a flip book 1 2
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AMDM Foldable.notebook January 17, 2013
Gross Pay
Straight Time
Straight time = number hours worked x hourly rate
Overtime
Rates: 1.5 = time and a half2 = double time
Chapter 1
Overtime pay = $ per hour x rate x # hours worked over regular hours
Total Pay = straight time pay + overtime pay
Need three 1/4 sheet folded towards the center into a flip book
1
2
AMDM Foldable.notebook January 17, 2013
Time Cards
Example
In 11:35 amOut 5:15 pm
Hours worked = time Out time In
+ 12
17:15-11:35 =
Convert using Clock chart
5:40
Time Cards
Use key after each numbero , "
5:15 - 11:35
5.75 hrs
3
Convert time to decimal for each day then add the totals for the week.
1. Find the comparison multiplier (put larger tire number on top) multiplier = diameter of larger tire diameter of smaller tire2. Can be used as a fraction or as a decimal3. Use this number to multiply by mileage, mph, or mpg to compare values for the larger tire to the smaller tire.
Turns in a mile and Comparing Tires
tire height is 7.82 inches
This formula changes mm to inchessince the rating is in mm! It works because 1 in = 25.4 mm
Example:
2 x 7.825 + 16example:
total distance around the tire
This tire's height is 75% of the width
Rim size = 16P265/75R16
AMDM Foldable.notebook January 17, 2013
Weighted Averages Need one 1/4 sheet folded hamburger style tabbed to the middle
top flap
Slugging Averages
SLG = 1 x S + 2 x D + 3 x T + 4 x HR AB
S = singles T = triplesD = doubles HR = home runs
AB = # times at batThis formula looks at how many bases a batter earns.
R = 25 x A + 1000 x C + 50 x Y + 4000 x T 5000 x I
12 x A
NFL Quarterback Passing Rating
R = ratingA = attempted passes per game (yr)C = completions per game (yr)Y = total passing yards per game (yr)T = touchdowns per game (yr)I = interceptions per game (yr)
AMDM Foldable.notebook January 17, 2013
UPC and Credit Card numbers Need 1 quarter sheet folded top to bottom with a tab left at the bottom.
UPC and Credit Card numbers
UPC Formula
(Multiply odd positions by 3)(Add the even positions)
example
1
Credit Card Numbers
Visa cards begin with 4, Mastercards begin with 5. There are 16 numbers
example
2
AMDM Foldable.notebook January 17, 2013Ch 2 Net Pay 6 part flip book. Need three 1/4 sheets
folded to the middle.
Income TaxNet Pay
Use tax tables $ on left exemptions on top
Federal Withholding Taxes (FIT)
State Withholding Tax
1. Find total exemptions2. Find taxable wages (subtr)3. Find annual state tax (mult)4. Find tax for pay period (div)
Passbook is to savings as register is to checking!
Savings account statements are usually quarterly.
interest = principal x APR % x time in years 3 months = 3/12 or 1/4 year
You will need 3 quarter sheets folded to center to make flipbook
1
2
3
4
amount in account = principal + interest months are written as fractions with a denominator of 12
i=prt
principal = original amountAPR = annual percentage rateinterest = money earned in account
AMDM Foldable.notebook January 17, 2013
A = P(1 + ) ∧ (n*t)rn
P is the principal or original amount in the accountr is the annual interest rate as a decimaln is the number of times the interest is compounded per year annually = 1, semiannually = 2, quarterly = 4, monthly = 12t is the number of years 6 months=.5 yrs 3 months=.25 yrs A is the final amount in the account
To find just the interest subtract P after you find A.
use fraction button on calculator
carat key
Compound Interest 5
x
AMDM Foldable.notebook January 17, 2013
How to use a compound interest table
1. Find total number of interest periods(years x number of times per year)
2. % rate per period(% divided by number of times per year)
3. find number in chart in the correct column and row4. Multiply principal times the number from the chart (this is how much you will have in your account)
5. Subtract the original amount to get your interest
Shortcut: for interest only, leave off the number in front of the decimal on the chart number.
How to use a compound interest table 6
tab 6 in booklet
AMDM Foldable.notebook January 17, 2013
Annuitiescover
Annuities
rate per period = r÷ndo not use % key
# of periods = n x t
inside
Formulas
Future Value of Ordinary Annuity = deposit x chart #
Future value of Annuity due = future value of ordinary x (1+ r %) annuity n
Add if debt is increasedSubtract if debt is decreased
AMDM Foldable.notebook January 17, 2013
4 5Previous Balance Method
1. Compute finance charge
FC = % x previous balance
2. Use the master formula to compute the new balance (page 3)
Unpaid Balance orAdjusted BalanceMethod
1. Previous balance Payments
2. compute finance charge FC = % x adjusted balance
3. Use the master formula to compute the new balance (page 3)
AMDM Foldable.notebook January 17, 2013
Note folder
Average Daily Balance without new purchases
ADB = sum of each day's balance ÷# days in cycle
To find ADB: Separate month into 3 parts1. before payment2. day of payment3. days after payment
Steps:1. Find ADB using method above2. Find Finance charge FC = ADB x %3. Find new balance using master formula.
6
AMDM Foldable.notebook January 17, 2013
ADB with new purchases
Average Daily Balance with new purchases
To find ADB: sum of each day's balance
÷ # days in cycle
Steps:1. Find ADB using a chart. Make a new row EVERY time the balance changes.2. Find the finance charge FC = % x ADB3. Find New Balance using the master formula (p 3)
7
AMDM Foldable.notebook January 17, 2013
Loans
exactordinary
need half sheet folded into envelope
Simple Interest
i = prt
i = p x r x days 360
i = p x r x days 365
i = interestp = principalr = %t = time in years
Maturity Value =principal + interest
Maturity value is the total amount to be paid back
monthly payment= Chart # X loan amount 100need % and# of monthsChart on page 177
6 7
To find monthly payment without a chart1. calculate the down payment2. subtract down payment3. multiply amount to be borrowed by the % and # of years.4. add amount to be borrowed and the interest5. divide total by the number of monthly payments to be made
4 5
Maturity value or totalamount repaid =# payments X amount of monthly payment
AMDM Foldable.notebook January 17, 2013
Monthly payment
Amount interest
Amt to principal Balance
Find the monthly payment from a chart or compute using a calculator.Find the interest for the month by multiplying the balance by the % and 1/12Find the amount paid to the principal by subtracting the interest from the monthly payment.Find the balance by subtracting the amount paid to the principal from the balance for the month before (previous balance).
Make a chart with these headings.
8 9
Allocation of Monthly Payment
Paying Off a Loan
Need to know
rate of loan %Balance owed
2. Add interest back to balance
Pay off = interest+ previous balance
1. Find interest owed by multiplying balance owed X % X 1/12
10 11
Finding the APR
If you know these numbers:Finance Charge# monthsAmount financed
1. find Finance charge ÷ amount financed X 100 interest ÷ maturity value X 100
2. Look for this number or a number close to it on the line for the # of months3. The APR will be at the top of the column
Finding the APR
If you know these numbers:cash pricemonthly payment# months
ads in paper or on TV!
1. monthly payment X # months = maturity value2. maturity value - cash price = finance charge3. Finance charge ÷ amount financed X 1004. Go to chart and look for a number close to it on the line for the # of months. APR will be at top of the column.12