Understanding Salary Payment Structures

The video tutorial introduces math students to various pay periods, including weekly, bi-weekly, semi-monthly, and monthly. It explains the number of paychecks received annually for each type and provides strategies to remember these differences. The tutorial also includes problem-solving exercises to calculate salaries based on different pay periods, emphasizing the importance of understanding these concepts in finance.

What does it mean to be paid weekly?

• You receive a paycheck every week.

• You receive a paycheck every day.

• You receive a paycheck every month.

• You receive a paycheck every year.

How many paychecks do you receive annually if you are paid weekly?

• 24

• 26

• 52

• 12

What does the prefix 'bi' in bi-weekly mean?

• Every week

• Every other week

• Twice a month

• Once a month

How many paychecks do you receive annually if you are paid bi-weekly?

• 52

• 26

• 24

• 12

What is the main confusion between bi-weekly and semi-monthly pay periods?

• The type of job you have

• The amount of each paycheck

• The day of the week you get paid

• The number of paychecks per year

How many paychecks do you receive annually if you are paid semi-monthly?

• 52

• 12

• 24

• 26

If you are paid monthly, how many paychecks do you receive in a year?

• 12

• 24

• 26

• 52

What is John's bi-weekly salary if his annual salary is $54,200?

• $2,050.00

• $2,000.00

• $2,100.00

• $2,084.62

How do you calculate bi-weekly salary from annual salary?

• Multiply annual salary by 26

• Divide annual salary by 26

• Multiply annual salary by 12

• Divide annual salary by 12

What is Lily's annual salary if her bi-weekly salary is $3,763.28?

• $98,000.00

• $97,845.28

• $95,000.00

• $100,000.00