Lesson 3 – Calculating dues
Now it’s time to calculate the amount of union dues to pay.
So if the salary is $1,000, and the rate of union dues is 1.5 per cent (0.015), you must pay $15 in dues.
The calculation is like this: $1,000 × 0.015 = $15.
Let’s try with a new example
Say you receive a $500 holiday bonus. You decide to save 25 per cent of that bonus.
Begin by converting the percentage into decimals without a calculator. Go ahead! I’ll wait for you to try…
How did it go?
Let’s look at how to calculate 25 per cent of your $500 bonus step by step.
First put the percentage into decimals, like this:
25 (Do not forget to remove the % sign)
Now that we have the number in decimals, we can find out how much 25 percent of $500 is.
Let’s try using a calculator:
- Try it yourself on your calculator.
Spoiler alert: you will deposit $125 into your savings account to meet your goal.