Sylvia receives a net pay of $390.45 biweekly. She has $130 withheld from her paycheck. What is her annual gross salary?
Pay = 52/2(390.45+130) = $13,531.70.
Well, let's break it down, shall we? Biweekly means getting paid every two weeks. So, if Sylvia's net pay is $390.45 biweekly, we can assume that she gets paid 26 times in a year (52 weeks divided by 2).
Now, to calculate her annual gross salary, we need to know how much is being withheld from her paycheck. You mentioned that $130 is being withheld. Let's subtract that from her net pay: $390.45 - $130 = $260.45, which represents her gross pay per pay period.
Since Sylvia receives her pay 26 times a year, we can calculate her annual gross salary by multiplying her gross pay per pay period by the number of pay periods: $260.45 x 26 = $6761.7.
So, drumroll please... Sylvia's annual gross salary is approximately $6761.7.
To find Sylvia's annual gross salary, we need to calculate her biweekly gross salary and then multiply it by the number of biweekly periods in a year.
1. Biweekly gross salary = Biweekly net pay + Withholdings
Biweekly gross salary = $390.45 + $130
Biweekly gross salary = $520.45
2. Number of biweekly periods in a year = 52 (weeks in a year) / 2 (biweekly periods in a year)
Number of biweekly periods in a year = 26
3. Annual gross salary = Biweekly gross salary × Number of biweekly periods in a year
Annual gross salary = $520.45 × 26
Annual gross salary = $13,547.70
Therefore, Sylvia's annual gross salary is $13,547.70.
To find Sylvia's annual gross salary, we first need to calculate her biweekly gross salary and then multiply it by the number of pay periods in a year.
Step 1: Calculate the biweekly gross salary
Sylvia's net pay is $390.45, and $130 is withheld from each paycheck. The net pay represents the amount Sylvia takes home after deductions, so to obtain the gross salary, we need to add the withheld amount back into the net pay.
Biweekly gross salary = Net pay + Withheld amount
Biweekly gross salary = $390.45 + $130
Step 2: Multiply the biweekly gross salary by the number of pay periods in a year
To determine Sylvia's annual gross salary, we need to multiply the biweekly gross salary by the number of pay periods in a year. Assuming Sylvia is paid biweekly, there are 26 pay periods in a year.
Annual gross salary = Biweekly gross salary x Number of pay periods
Annual gross salary = ($390.45 + $130) x 26
Now we can calculate Sylvia's annual gross salary:
Annual gross salary = ($520.45) x 26
Annual gross salary = $13,547.70
Therefore, Sylvia's annual gross salary is $13,547.70.