Brendan Is an Hourly Worker and Earns $15

question 11

Multiple Choice

Brendan is an hourly worker and earns $15.25/hour. During a week's pay period, he worked the following hours and minutes: Day Hours Minutes
Monday 8 45
Tuesday 7 52
Wednesday 8 0
Thursday 9 36
Friday 8 24
Using the hundredth-hour method, what is Brendan's gross pay for the week? The employer pays overtime for all time worked in excess of 40
Hours per week. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

• A) $649.90
• B) $669.86
• C) $670.
• D) $650.

---

Definitions:

Conversion Value

The monetary value of a convertible security if it were converted into shares of the underlying company at the current market price.

Convertible Bond

A bond which offers the option to be exchanged for a specific number of the issuing company's stock at certain periods throughout its duration, typically at the option of the person holding the bond.

Equity

represents the value of the shares issued by a company, denoting the ownership interest held by shareholders in the corporation.

Call Option

A monetary agreement allowing the possessor the choice, yet not the compulsion, to acquire a stock, bond, commodity, or any other asset for a prearranged price within a set interval.