Question

Amy earns an annual salary of $40,000 working for the law office of Smith and Jones. What is her gross pay per paycheck if she is paid semimonthly?

Answer 1

See a solution process below:

Explanation:

Semi-Monthly means twice per months.

Because there are 12 months in a year Amy is paid:

`2 xx 12 = 24` times a year.

We can therefore find Amy's gross pay per paycheck by dividing her salary by `24`:

`($40,000)/12 = $1,666.666...` or `$1,666.67` rounded to the nearest cent.