What would my annual salary be?

Question

Im absolutely DYING to get a Hyundai Tiburon but I got the vin # and insurance was rediculously high (4k a year) if I finance a Tiburon (11k total) and pay insurance im not sure a minimum wage job would cover the expenses. Here in Massachussetts minimum wage is $8.oo per hour. If i put in 30 hours a week how much would my anual gross salary be?

Answer 1

Please!  This is basic math!  30 x 50 x $8.  

You can't afford to buy a new car.   After a few months, you MIGHT be able to afford a $1,000 beater, with minimum coverage.

Answer 2

$8 an hour minimum wage!?

Here in England, UK the minimum wage for 16yr olds+ is the equivalent of $11.30 an hour

Answer 3

At $8 an hour for 30 hours a week, your gross yearly salary would be $12480.  

Not enough for a car like that...

Get a better job or work extra hours. Take overtime. It helps

PS:

At 40 hours a week, your annual gross jumps to $16640.

With 5 hours of overtime a week, you go to $19760. Work 10 hours of OT and you will make $22880.

See how much a few hours can make up?

Answer 4

Well, here you go...

30 hrs * 8/hr = 240 per week

52 weeks in a year (approx) * 240 = 12,480

But! You will also have to factor in taxes, however, your tax bracket is not high. Therefore, you would only pay about $1,000 in taxes...however, that depends on certain factors that I a do not have the information to decide on.

Anyways, your purchase of a vehicle should also depend on any other expenses you have right now. Rent, Food, Cellphone, Utilities, etc...

Also, don't forget to factor in the cost of gas.

Right now, I wouldn't go buying a car just yet...

Are you going to school? Maybe you should focus your money on something else...like a savings account. Just a thought...good luck!

Answer 5

If you put in 30 hours a week, your annual salary would be roughly $11 520.00/year.