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Calculate the total wages earned for each employee (assume an overtime rate of time and a half over 40 hours):
a) Sam earns $25 per hour and worked 45 hours in one week.
b) Jim earns $20 per hour and worked 42 hours in one week.
Futures Contracts
Standardized legal agreements to buy or sell something at a predetermined future date and price, typically used for commodities or financial instruments.
Forward Contracts
Non-standardized contracts between two parties to buy or sell an asset at a specified future time at a price agreed upon today.
Default Free
An investment that is considered to have no risk of failure to pay back principal or interest.
CGB Futures
Futures contracts based on Canadian Government Bonds, which allow investors to speculate on or hedge against future changes in the value of these bonds.
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