Question

An employee is offered a salary of $60,000 a year. This company issues paychecks twice a month. What will the gross pay be for these paychecks?

(1 point)
Responses

$6000

$6000

$5000

$5000

$2500

$2500

$1250

Answer 1

To calculate the gross pay per paycheck when the annual salary is $60,000 and the company issues paychecks twice a month, you can use the following formula:

1. **Determine the total number of pay periods in a year.** Since there are 12 months in a year and the employee is paid twice a month, there are:
\( 12 \text{ months} \times 2 = 24 \text{ pay periods.} \)

2. **Calculate the gross pay per paycheck:**
\[
\text{Gross pay per paycheck} = \frac{\text{Annual salary}}{\text{Number of pay periods}} = \frac{60,000}{24}
\]

Calculating that gives:
\[
\text{Gross pay per paycheck} = 2,500
\]

So, the gross pay for each paycheck will be **$2,500**.