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Reply to "How many nannies are confused about OT rates? Seriously."
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[quote=Anonymous][quote=Anonymous]X * Y = Z Z / Y = X Z / X = Y rate * weekly hours = weekly pay weekly pay / weekly hours = rate weekly pay / rate = weekly hours all you have to know is two variables to get the third. not difficult in the least. [/quote] If x<=40, y>=minimum wage, then yes z=weekly pay. If x>=40: z=(x-40)*1.5*y+ x*y z=y[1.5(x-40)+x]=y(1.5x-60+x)=y(2.5x-60) y=z/(2.5x-60) x is harder to figure out. going back to z=(x-40)*1.5*y+ x*y z=1.5xy-60y+xy z-60y=1.5xy+xy=2.5xy (z-60y)/(2.5y)=x That is, if your contract is legal according to the IRS. Or you could just guarantee a certain number of hours and pay the extra overtime rate on the rare occasions that those hours are exceeded. [/quote]
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