Question

H E L P PLEASE!! COME ON! Grace receives a net pay of $483.75 biweekly. She has $170 withheld from her pay each pay period. What is her annual gross salary?

A. $3,653
B. $3,372
C. $16,997.50
D. $10,572
All the results I got didn't match so I'm apparently doing something wrong... :/ So please explain your answer CLEARLY. Thanks! Edit: this is the third time I've had to put this up guys. someONE HELP PLEASE

Answer 1

Ok so let's set too definitions first.

Net pay (what she gets) is her pay after everything is taken out (which I $483.75).

Annual Gross Salary is what she would have if nothing was taken out of her paycheck (similar to revenue).

So if we want to know her Annual Gross Salary, we need to know her gross paycheck which would include the $170 because again gross means everything she earned not just what she gets after all taxes and such are deducted (the $170 would be taxes and such).

So her gross paycheck would be:

$483.75 + $170 = $653.75
That is her gross paycheck.

Now we also know she gets payed BIWEEKLY so she wouldn't get payed every week in the year, just every other week.

There are 52 weeks in the year so she would get paid only 26 weeks each year (52/2).

So we would multiply the number of weeks she gets payed a year (26) by her biweekly pay ($653.75)

653.75 × 26 = $16, 997.50
Answer is C.

hope this helps c: !!