Chapter 9.I, Problem 1TIE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

An executive of a large manufacturing company earns a gross annual salary of $43,500. What is the weekly, biweekly, semimonthly, and monthly pay for this employee?

To determine

**To calculate:** The weekly, biweekly, semimonthly and monthly pay for an employee who is an executive of large manufacturing company and earns $43,500 as a gross annual salary.

Explanation

**Given Information:**

The provided gross annual salary is $43,500.

**Formula used:**

To determine amount of gross pay per period.

**Calculation:**

Consider the annual salary, $43,500

Now, to find weekly pay divide the annual salary by 52.

Round off 836.538 to hundredths to get

So, the weekly pay is $836.54.

Now, to find biweekly pay divide the annual salary by 26.

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