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HOW IT WORKS / INFORMATION

PAYDAY

CONTENTS:
1. Hourly income example
2. Annual income example
3. Monthly with super income example


Payday works by taking your income and converting it into annual, monthly, fortnightly, weekly and hourly brackets.

1. Hourly income example


A pay of $20/hr with a working week of 38 hours.

20 x 38 =  $760 / week
(Hours multiply by the weekly hours)

$760 x 52 =  $39,520 / year
(52 weeks in a year)

$38,520 ÷ 12 =  $3,293.33 / month
(12 months in a year)

$39,520 ÷ 26 =  $1,520 / fortnight
(26 fortnights in a year)





2. Annual income example


Annual pay of $50,000 working 60 hours a week.

$50,000 ÷ 12 =  $4,166.67 / month
(12 months in a year)

$50,0000 ÷ 26 =  $1,923.08 / fortnight
(26 fortnights in a year)

$50,000 ÷ 52 =  $961.54 / week
(52 weeks in a year)

$760 ÷ 60 =  $16.03 / hour
(Divide the hours worked in a week)





3. Monthly income example


Monthly pay with super of $6,000 working 40 hours a week at a 10% super rate.

$6,000 ÷ 1.1 =  $5,454.55 / month
(Income with super, take away 10% super)

$5,455 x 52 =  $65,454.55 / annually
(52 weeks in a year)

$65,454.55 ÷ 26 =  $2,517.48 / fortnight
(26 fortnights in a year)

$65,454.55 ÷ 52 =  $1,258.74 / week
(52 weeks in a year)

$1,258.74 ÷ 40 =  $31.47 / hour
(Divide the hours worked in a week)
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