Questions: How much money does an employee working for a salary of 40,000 per year get paid each month? [?] Round to the nearest whole dollar.

How much money does an employee working for a salary of 40,000 per year get paid each month? [?] Round to the nearest whole dollar.
Transcript text: Mid-Term Exam How much money does an employee working for a salary of \$40,000 per year get paid each month? \$[?] Round to the nearest whole dollar.
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Solution

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Solution Steps

Step 1: Determine the Annual Salary

The annual salary \(S\) of the employee is given as $40000.

Step 2: Identify the Number of Payment Periods per Year

The number of payment periods \(N\) per year is given as 12.

Step 3: Calculate the Periodic Payment

The periodic payment \(P\) is calculated using the formula \(P = S / N\). Substituting the given values, we get \(P = 40000 / 12 = 3333.333\).

Step 4: Round the Periodic Payment

The periodic payment rounded to the nearest 0 decimal places is $3333.

Final Answer:

The periodic payment for an employee with an annual salary of $40000 over 12 payment periods per year, rounded to the nearest 0 decimal places, is $3333.

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