Final answer:
To calculate the average monthly net pay from a bi-weekly net pay of $567.00, you multiply the bi-weekly pay by 26 (to get the annual net pay) and then divide by 12 (to convert to monthly). The average monthly net pay is $1,228.50.
Step-by-step explanation:
To calculate the average monthly net pay from a bi-weekly net pay of $567.00, we need to understand that there are not exactly four weeks in a month but slightly more (about 4.33 weeks, since most months have 30 or 31 days except February). Therefore, the calculation isn't as simple as multiplying by two.
Here's the step-by-step calculation:
- Multiply the bi-weekly pay by the number of payments in a year to find the annual net pay: $567.00 × 26 bi-weekly periods/year = $14,742.00 per year.
- Divide this annual net pay by the number of months in a year to find the average monthly net pay: $14,742.00 ÷ 12 months/year = $1,228.50 per month.
Therefore, the average monthly net pay would be $1,228.50.