An employee is offered a salary of $60,000 a year. This company issues paychecks twice a month. What will the gross pay be for these paychecks?
• $6000
• $5000
• $2500
• $1250
To calculate the gross pay for each paycheck, divide the annual salary by the number of pay periods in a year. Since the company issues paychecks twice a month, there are a total of 24 pay periods in a year.
$60,000 / 24 = $2,500
Therefore, the gross pay for each paycheck will be $2,500.
The correct answer is:
• $2500