Question

If your gross pay is $1500 each pay period, and you are paid semimonthly, what is your yearly gross pay?

Answer 1

$39,000

Step-by-step explanation:

Ideally, we'd know if every pay period is 2 weeks, but that's pretty standard. They say semimonthly because if you look at a calendar over a year, there are a couple of months where you will have 3 paychecks.

So. 52 weeks/year, divided into 2-week pay periods = 26 pay periods/year.

26 x 1,500 = 39,000

Please let me know if you have any questions about this.