Question

Jasper has an annual salary of $71,000, and his company pays him twice a month. What is the gross income per paycheck that Jasper receives?

Answer 1

Divide $71,000 by 24 because there are 12 months in a year and he gets paid 2 times a month. I got $2,958.33

Answer 2

First, we can break down his pay into how much he gets each month. There are 12 months in a year so lets break his salary down into 12 payments :

71,000 / 12 = 5916.67

Now, if he receives a paycheck twice a month, we need to breakdown his monthly payment into 2. Thus, his bi-monthly paycheck is :

5916.67 / 2 = 2958.33