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Math  /  Numbers & Operations

QuestionHow much money does an employee working for a salary of $64,000\$ 64,000 per year get paid every two weeks?

Studdy Solution

STEP 1

1. The employee's annual salary is $64,000\$64,000.
2. There are 52 weeks in a year.
3. The employee is paid every two weeks, meaning there are 26 pay periods in a year.

STEP 2

1. Determine the number of pay periods in a year.
2. Calculate the amount of money the employee earns per pay period.

STEP 3

Determine the number of pay periods in a year. Since the employee is paid every two weeks and there are 52 weeks in a year:
Number of pay periods=52 weeks2 weeks per pay period=26 pay periods \text{Number of pay periods} = \frac{52 \text{ weeks}}{2 \text{ weeks per pay period}} = 26 \text{ pay periods}

STEP 4

Calculate the amount of money the employee earns per pay period by dividing the annual salary by the number of pay periods.
Pay per period=$64,00026 \text{Pay per period} = \frac{\$64,000}{26}

STEP 5

Perform the division to get the pay per period.
Pay per period=64,00026=2,461.5385 \text{Pay per period} = \frac{64,000}{26} = 2,461.5385
Solution: The employee gets paid $2,461.54\$2,461.54 every two weeks, when rounded to the nearest cent.

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