Question

Chip has an annual salary of $41,000, and his company pays him twice a month. What is the gross income on each paycheck that Chip receives?







A.

$5857.14








B.

$3416.67








C.

$788.46








D.

$1708.33

Answer 1

1. Chip's salary is $41,000
2. He gets paid twice a month.
3. There's twelve months in a year
4. 12 x 2 = 24 paychecks
5. 41,000/24 = gross bi-monthly income.