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Norm Bates Is Paid a Semi-Monthly Salary of $792

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Essay

Norm Bates is paid a semi-monthly salary of $792.50. Regular hours are 37 1/2 per week and overtime is paid at time and one-half regular pay.
a) What is Norm's hourly rate of pay?
b) How many hours overtime did Norm work in a pay period for which his gross pay was $946.30?


Definitions:

Issuance Size

Refers to the total amount of securities, such as bonds or stocks, that an entity offers to the public for sale.

Venture Capital

Financing for new, often high-risk ventures.

Ownership

The act, state, or right of possessing something.

Financing Condition

A provision that stipulates specific financial conditions that must be met for a transaction to proceed.

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