Math of Finance 1.1 - 1.4 Review

If you are paid weekly, how many paychecks will you get in a year?

• 52

• 24

• 12

• 26

If you are paid bi-weekly, how many paychecks will you get in a year?

• 52

• 24

• 12

• 26

If you are paid monthly, how many paychecks will you get in a year?

• 52

• 24

• 12

• 26

If you are paid semi-monthly, how many paychecks will you get in a year?

• 52

• 24

• 12

• 26

John's annual salary is $52,500.

Find his semi-monthly salary.

• $4375.00

• $2187.50

• $2019.23

• $1009.62

Answer explanation

Salary ÷ 24

Rob's annual salary is $78,460.

Find his weekly salary.

• $6538.33

• $3269.17

• $3017.69

• $1508.85

Answer explanation

Salary ÷ 52

Jenny's annual salary is $35,850.

Find her monthly salary.

• $2987.50

• $1493.75

• $1378.85

• $689.42

Answer explanation

Salary ÷ 12

Tara's annual salary is $98,872.

Find her bi-weekly salary.

• $4119.67

• $3802.77

• $8239.33

• $1901.38

Answer explanation

Salary ÷ 26

If your regular hourly rate is $10.40 and overtime pays time-and-a-half, what is your overtime rate?

• $15.60

• $11.90

• $20.80

• $10.40

Answer explanation

Hourly rate x 1.5

If your regular hourly rate is $9.15 and overtime pays double time, what is your overtime rate?

• $9.15

• $18.30

• $11.15

• $13.73

Answer explanation

Hourly rate x 2