An employee of a Board of Education is paid an annual salary in 22 bi-weekly payments of $1483.41 each. The employee is under contract for 220 workdays of 8 hours each. (a) What is the hourly rate of pay? (b) What is the gross pay for a pay period in which the employee was away for 3 days at no pay? (a) The hourly rate is $. (Round to the nearest cent as needed.) (b) The gross pay is $

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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An employee of a Board of Education is paid an annual salary in 22 bi-weekly payments of $1483.41 each. The employee is under contract for 220 workdays of 8 hours
each.
(a) What is the hourly rate of pay?
(b) What is the gross pay for a pay period in which the employee was away for 3 days at no pay?
......
(a) The hourly rate is $.
(Round to the nearest cent as needed.)
(b) The gross pay is $
(Round to the nearest cent as needed.)
Transcribed Image Text:An employee of a Board of Education is paid an annual salary in 22 bi-weekly payments of $1483.41 each. The employee is under contract for 220 workdays of 8 hours each. (a) What is the hourly rate of pay? (b) What is the gross pay for a pay period in which the employee was away for 3 days at no pay? ...... (a) The hourly rate is $. (Round to the nearest cent as needed.) (b) The gross pay is $ (Round to the nearest cent as needed.)
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