Question

Lisa receives a net pay of $619.06 biweekly. She has $143withheld from her pay each pay period. What is her annual gross salary?a. $ 762.06b. $18,289.44c. $19,813.56d. $39,627.12

Answer 1

Answer:

c. $19,813.56

Explanation:

Given:

• Lisa receives a net pay of $619.06 biweekly.

,

• $143 is withheld from her pay each pay period.

We are required to find her annual gross salary.

First, determine her gross salary for each pay period.

$\begin{gathered} \text{Gross Salary}=\text{Net Pay+Deduction} \\ =619.06+143 \\ =\ 762.06 \end{gathered}$

Next, determine the number of payment periods.

$\begin{gathered} \text{Lisa is paid biwe}ekly,\text{ that is every 2 weeks.} \\ The\text{ number of weeks in a year}=52 \\ \text{Therefore:} \\ \text{The number of payment periods}=\frac{52}{2}=26 \end{gathered}$

Finally, multiply her gross salary per period by the number of periods to get her annual gross salary.

$\begin{gathered} \text{Gross annual salary}=26\times762.06 \\ =\ 19,813.56 \end{gathered}$

Lisa's annual gross salary is $19,813.56.

Option C is correct.