Question

name:
class:
date:
id: a
ch1 gross pay salary

1. the term gross pay salary earnings means the total amount of earnings due an employee for work performed before payroll deductions are withheld.
2. calculate the gross earnings per pay period for the pay schedule, rounding to the nearest cent:

annual salary $20,000
monthly
semimonthly
biweekly
weekly

Explanation:

Step1: Calculate monthly pay

Divide annual salary by 12.
$20000\div12\approx1666.67$

Step2: Calculate semimonthly pay

Semimonthly means 2 times a month. So divide annual salary by 24.
$20000\div24\approx833.33$

Step3: Calculate bi - weekly pay

There are approximately 52 weeks in a year, and bi - weekly means every 2 weeks. So there are $52\div2 = 26$ bi - weekly periods in a year.
$20000\div26\approx769.23$

Step4: Calculate weekly pay

Divide annual salary by 52.
$20000\div52\approx384.62$

Answer:

Monthly: $\$1666.67$
Semimonthly: $\$833.33$
Biweekly: $\$769.23$
Weekly: $\$384.62$