complete the following salaried paid problems.\n1) if kris jenkins is paid a monthly salary of $4,725, what…
complete the following salaried paid problems.\n1) if kris jenkins is paid a monthly salary of $4,725, what would his annual salary be?\n2) carlos rodriguez has a weekly salary of $1,250. if his employer needs to start paying him on a semi - monthly basis, what should his new salary be?\n3) your annual salary is $52,500. what is your weekly salary?\n4) your annual salary is $68,320. what is your semi - monthly salary?\n5) if a weekly salary is $975. what is the annual and semi - monthly salary?
Answer
Explanation:
Step1: Recall conversion factors
There are 12 months in a year, 26 semi - monthly periods in a year, and 52 weeks in a year.
Step2: Solve problem 1
To find the annual salary when given a monthly salary, multiply the monthly salary by 12. Annual salary of Kris Jenkins = $4725\times12 = 56700$
Step3: Solve problem 2
First, find the annual salary by multiplying the weekly salary by 52. Then divide the annual salary by 26 to get the semi - monthly salary. Annual salary of Carlos Rodriguez = $1250\times52=65000$ Semi - monthly salary = $\frac{65000}{26}=2500$
Step4: Solve problem 3
To find the weekly salary when given the annual salary, divide the annual salary by 52. Weekly salary = $\frac{52500}{52}\approx1009.62$
Step5: Solve problem 4
To find the semi - monthly salary when given the annual salary, divide the annual salary by 26. Semi - monthly salary = $\frac{68320}{26}=2627.69$
Step6: Solve problem 5
Annual salary: Multiply the weekly salary by 52. Annual salary = $975\times52 = 50700$ Semi - monthly salary: Divide the annual salary by 26. Semi - monthly salary = $\frac{50700}{26}=1950$
Answer:
- $56700
- $2500
- $\approx1009.62$
- $2627.69
- Annual salary: $50700, Semi - monthly salary: $1950$