Credit: Guy Sie CC-BY-SA 2.0
Q:

# How do I calculate how much I make an hour?

A:

The hourly rate of pay is calculated by dividing the gross salary for a specific period by the number of hours worked in that same period. Gross salary is the amount earned prior to any deductions.

Know More

## Keep Learning

The same formula applies whether the salary being converted is annual, monthly, bi-monthly, or weekly. For example, if an individual receives a weekly check with a gross pay of \$1,200, and he worked 40 hours that week, his hourly rate is \$30.00. Similarly, an individual receiving an annual gross salary of \$62,400 who works 40 hours per week, or 2,080 hours annually, also makes \$30.00 per hour.

Sources:

## Related Questions

• A:

Real interest rate is calculated by adjusting for the effects of inflation when compared to the nominal interest rate. The calculation formula is simple, as it only requires subtracting the rate of inflation from the nominal interest rate. The value left after subtraction is the real interest rate.

Filed Under:
• A:

The real Gross Domestic Product per person, or per capita, is calculated by first adjusting the nominal GDP of a country for inflation by dividing the nominal GDP by the deflator. The adjusted number, or real GDP, is then divided by the country's population.

Filed Under:
• A:

Profit on return is calculated by subtracting a unit's selling price from the cost to produce, dividing that difference by the selling price and multiplying that number by 100. This equation gives the percentage margin of profit made on each unit.