Fay is paid semimonthly. The net amount of each paycheck is $670.50.

What is her net annual income?

1 answer

To calculate Fay's net annual income, we need to first determine how much she earns in one month and then multiply that by 12 (for 12 months in a year).

Fay's net amount per paycheck is $670.50. Since she is paid semimonthly, she receives two paychecks per month.

Net monthly income = $670.50 * 2 = $1341

Now, to find Fay's net annual income, we will multiply her monthly income by 12 (for 12 months in a year).

Net annual income = $1341 * 12 = $16,092

Therefore, Fay's net annual income is $16,092.