Asked by Saraid Herrera on Jun 06, 2024
Verified
Nitin earns $48,000 per year for a forty-hour workweek. Determine his hourly rate of pay if he is paid biweekly. Assume there are 52 weeks in the year.
A) $250.00
B) $24.04
C) $46.50
D) $50.00
E) $23.08
Hourly Rate
A fixed amount of money paid for each hour of work performed.
Biweekly Pay
A payment structure where employees receive wages every two weeks, often resulting in 26 pay periods per year.
- Decode and solve difficulties related to sales, taxes, and commissions.
Verified Answer
CD
Cosmic DaedraJun 11, 2024
Final Answer :
E
Explanation :
Nitin's annual salary is $48,000. To find the hourly rate, divide the annual salary by the number of weeks in a year (52) and then by the number of hours worked per week (40). $48,000 / 52 weeks = $923.08 per week. $923.08 / 40 hours = $23.08 per hour.
Learning Objectives
- Decode and solve difficulties related to sales, taxes, and commissions.