Problem 56
Question
A job pays an annual salary of \(\$ 33,150\), which includes a holiday bonus of \(\$ 750 .\) If paychecks are issued twice a month, what is the gross amount for each paycheck?
Step-by-Step Solution
Verified Answer
The gross amount for each paycheck is $1350.
1Step 1: Isolate regular pay
Obtain the regular pay by subtracting the bonus from the total annual salary, i.e., \(33,150 - 750 = $32,400\)
2Step 2: Calculate gross paycheck
Compute the gross amount for each paycheck by dividing the regular pay by the number of paychecks in a year. Since paychecks are issued twice a month, there are a total of 24 paychecks annually (12 months x 2). Thus, \(32,400 \ ÷ \ 24 = $1350\) per paycheck.
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