Suppose you borrow $26000 at an annual interest rate of 5%. For 3 years, you do not make any payments. Find the interest accrued
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<u>Pay of Malik Boykin:</u>
Step 1:
Adding the total hours for each week:
Week of 3/10 = 5.5+6+9+12+7 = 39.5
Week of 3/17 = 8+8.5+9+13+4.5+4 = 47
Step 2:
Any sum of 40 hours or less gets multiplied by the hourly salary:
Week of 3/10: - That's the pay for that week
Week of 3/17:
Step 3:
For hours worked over 40 the salary is 1.5 times the normal salary:
Now multiply the hours over 40 for that week by the time and a half:
And adding it to the we get,
Therefore, Week of 3/10: and Week of 3/17: