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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

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.

Weekly pay = Annual Salary÷52Biweekly pay = Annual Salary÷26Semimonthly pay = Annual Salary÷24Monthly pay = Annual Salary÷12

Calculation:

Consider the annual salary, $43,500

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

Weekly pay =AnnualSalary52=43,50052=836.538

Round off 836.538 to hundredths to get 836.54.

So, the weekly pay is $836.54.

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

Biweekly pay =AnnualSalary26=43,50026=1673

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