Question

Quinton wants you to calculate his biweekly paycheck. How much would he earn each pay period if he has an annual salary of $55,500?

Answer 1

$2,134.62.

There are approximately 52 weeks in a given year, meaning that there are 52/2, or 26, biweekly pay periods. Therefore, we divide the annual salary of $55,500 by 26 biweekly pay periods to get $2,134.62 for the biweekly paycheck. 

The formula is the annual amount divided by the number of periods. Here, there are 26 periods of biweekly (once every two weeks) paychecks.