question 3 2 pts damien has a yearly salary at all star accountants of $42,500.00. he gets paid bi - weekly…

question 3 2 pts damien has a yearly salary at all star accountants of $42,500.00. he gets paid bi - weekly. what is his gross pay for each pay period? enter answer using format: $ 0,000.00 make sure to round to two decimal places.

question 3 2 pts damien has a yearly salary at all star accountants of $42,500.00. he gets paid bi - weekly. what is his gross pay for each pay period? enter answer using format: $ 0,000.00 make sure to round to two decimal places.

Answer

Explanation:

Step1: Determine number of bi - weekly periods

There are 52 weeks in a year. Bi - weekly means every 2 weeks. So the number of bi - weekly periods in a year is $\frac{52}{2}=26$.

Step2: Calculate bi - weekly pay

Divide the yearly salary by the number of bi - weekly periods. Let the yearly salary be $S = 42500$ and the number of bi - weekly periods be $n = 26$. Then the bi - weekly pay $P=\frac{S}{n}=\frac{42500}{26}\approx1634.62$.

Answer:

$1,634.62$