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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

Calculate the gross earnings per day period for the following pay schedules.

Annual Salary Monthly Semimonthly Biweekly Weekly

_________________________________________________________________

$21,600 $1,800,00 $900.00 $830.77 $415.38

______ _______ ________ _______

To determine

To calculate: The amount for annual, semimonthly, biweekly and weekly gross earnings when monthly salary is $1,800.

Explanation

Given Information:

The provided monthly salary is $1,800.

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 monthly salary, $1,800.

Now, to find annual pay multiply monthly salary by 12.

AnnualSalary=MonthlyPay×12=$1,800×12=$21,600

So, the annual pay is $21,600.

Now, consider annual salary, $21,600.

To find semimonthly pay divide annual salary by 24.

SemimonthlyPay=AnnualSalary24=$21,60024=$900

So, the semimonthly pay is $900

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