Question

At an annual salary of $55,000 per year, what is the amount of semimonthly paychecks?

2,115.38
4,583.33
3,928.57
2,291.67

Answer 1

semi monthly means 2 times per month
assume that pay is at beginning and middle of month (doesn't matter, but makes it easier for me)

so 12 months
2 times per month
12 times 2=24
divide 55000 by number of months
55,000/24=2291.67

so the amount per paycheck, assuming equally distributed amounts throughout the paychecks, is $2291.67