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11 February, 14:41

At an annual salary of $55,000 per year, what is the amount of semimonthly paychecks?

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  1. 11 February, 14:44
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    Semi monthly means 2 times per month

    assume that pay is at beginning and middle of month (doesn't matter, but makes it easier for me)

    so 12 months

    2 times per month

    12 times 2=24

    divide 55000 by number of months

    55,000/24=2291.67

    so the amount per paycheck, assuming equally distributed amounts throughout the paychecks, is $2291.67
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