Question

Kristy is paid semimonthly. The net amount of each paycheck is$750.50. What is her net annual income?a. $18,012b. $4,503c. $19,513d. $9,006

Answer 1

SOLUTION

Given the question in the question tab, the following are the solution steps to answer the question.

STEP 1: Define semimonthly

A semimonthly payroll is paid twice in a month.

STEP 2: Calculate the net annual income

$\begin{gathered} Net\text{ annual income means the total money received in a year.} \\ \text{If net amount of each paycheck is \ 750.50 and it is a semimonthly payment, then;} \\ \text{monthly payment=\ 750.50}\times2=\text{\ }1501 \\ \\ There\text{ are 12 months in a year,} \\ \text{If Kristy earns in month, then the amount earned in a year is:} \\ 12\times\text{\ 1501=\ 18,012} \end{gathered}$

Hence, her net annual income will be $18,012

OPTION a