Lisa receives a net pay of $619.06 biweekly. She has $143
withheld from her pay each pay period. What is her annual gross salary?
a. $762.06
b. $18,289.44
c. $19,813.56
d. $39,627.12
To determine Lisa's annual gross salary, we need to first calculate her gross pay for one pay period.
Gross pay = net pay + withheld amount
Gross pay = $619.06 + $143
Gross pay = $762.06
Next, we need to determine how many pay periods there are in a year. Since Lisa is paid biweekly, there are 26 pay periods in a year (52 weeks in a year divided by 2).
Finally, we can calculate her annual gross salary:
Annual gross salary = gross pay per pay period x number of pay periods in a year
Annual gross salary = $762.06 x 26
Annual gross salary = $19,813.56
Therefore, the answer is c. $19,813.56.