Question

Mary gets an annual salary of $56,780. if she is paid semimonthly, what is the amount of her semimonthly gross pay?

Answer 1

 There are 52 weeks in a year. Being paid biweekly means being paid every other week, or 26 times a year. 

$567.20 * 26 

There are 12 months in a year. If Mary is paid semimonthly, she is paid twice a month, or 24 times a year. 

$56,780 / 24

Answer 2

Mary gets paid $2,365.83 on a semimonthly period basis.

Mary gets around $56,780 per year.

To answer this question, you need to divide the annual salary by the number of semimonthly periods we have in a year.

There are 12 monthly periods. Semi means half so a month has 2 semi periods.

The number of semimonths in a year are:

= 12 months x 2

= 24 semimonths

Mary's semimonthly pay is therefore:

= Annual salary / Number of semimonthly periods

= 56,780 / 24

= $2,365.83

In conclusion, Mary's semimonthly pay is $2,365.83.

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