   Chapter 9.I, Problem 1RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the gross earnings per pay period for the following pay schedules.Annual Salary Monthly Semimonthly Biweekly Weekly____________________________________________________________________$15,000$1,250.00 $625.00$576.92 $288.46_________ _______ _______ ________ To determine To calculate: The amount for monthly, semimonthly, biweekly and weekly gross earnings when annual salary is$15,000.

Explanation

Given Information:

The provided annual salary is $15,000. Formula used: To determine amount of gross pay per period: Monthly pay = Annual Salary÷12Semimonthly pay = Annual Salary÷24Biweekly pay = Annual Salary÷26Weekly pay = Annual Salary÷52 Calculation: Consider the annual salary,$15,000.

Now, to find monthly pay divide the annual salary by 12.

Monthly pay =AnnualSalary12=15,00012=1,250

So, the monthly pay is $1250. Now to find semimonthly pay divide annual salary by 24. Semimonthly pay =AnnualSalary12=15,00024=625 So, the semimonthly pay is$625

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