Question

Ricardo is a salaried employee who is paid every two weeks. His annual salary is $59,250. What is his gross pay for one paycheck?

a) $1,125
b) $2,250
c) $2,406.25
d) $4,500

Answer 1

Ricardo's gross pay for one paycheck is calculated by dividing his annual salary by 26, which represents the pay periods in a year when paid every two weeks. The correct answer, closest to the calculated value, is option c) $2,406.25.

Step-by-step explanation:

To calculate Ricardo's gross pay for one paycheck when he is paid every two weeks, we need to divide his annual salary by the number of pay periods in a year. Since there are 52 weeks in a year, being paid every two weeks means there will be 52/2 = 26 pay periods.

Ricardo's annual salary is $59,250. To find the gross pay per paycheck:

$59,250 ÷ 26 = $2,279.81

However, since this value is not one of the options provided, let's compare the calculated value with the closest option to determine the correct answer, which appears to be option c) $2,406.25.