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bealezmeito
bealezmeito bealezmeito
  • 28-11-2015
  • Mathematics
Answered

At an annual salary of $55,000 per year, what is the amount of semimonthly paychecks?

Verified Answer :

apologiabiology
apologiabiology apologiabiology
  • 28-11-2015

semi monthly means 2 times per month
assume that pay is at beginning and middle of month (doesn't matter, but  makes it easier for me)

so 12 months
2 times per month
12 times 2=24
divide 55000 by number of months
55,000/24=2291.67

so the amount per paycheck, assuming equally distributed amounts throughout the paychecks, is $2291.67

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