Eric receives a net pay of $732.87 biweekly. He has $172 withheld from
his pay each pay period. What is his annual gross salary?
a. $19,787.26
b. $19,054.62
c. $23,526.62
d. $21,716.88
To calculate Eric's annual gross salary, we need to first determine his gross pay for each pay period before any deductions are taken out. We can do this by adding the amount withheld ($172) to his net pay ($732.87), which gives us:
$732.87 + $172 = $904.87
This means Eric earns $904.87 every two weeks, or $904.87 x 26 (the number of pay periods in a year) = $23,526.62 per year.
Therefore, the answer is (c) $23,526.62.