Rafael Earned A Salary Of $34,944 Last Year. How Much Did He Earn Per Month? A. $4,992 B. $2,912 C. $672 D. $416
Understanding the Problem
Rafael earned a salary of $34,944 last year. To find out how much he earned per month, we need to divide his annual salary by the number of months in a year.
Calculating Monthly Salary
There are 12 months in a year. To find the monthly salary, we can divide the annual salary by 12.
Monthly Salary = Annual Salary / 12
Applying the Formula
Let's apply the formula to find Rafael's monthly salary.
Monthly Salary = $34,944 / 12
Solving the Equation
To solve the equation, we can divide $34,944 by 12.
Monthly Salary = $2,913.00
Rounding the Answer
Since we can't have a fraction of a dollar, we can round the answer to the nearest dollar.
Monthly Salary ≈ $2,913
Comparing the Answer
Now, let's compare our answer with the options provided.
| Option | Monthly Salary |
|---|---|
| A | $4,992 |
| B | $2,912 |
| C | $672 |
| D | $416 |
Our answer, $2,913, is closest to option B, $2,912.
Conclusion
To find Rafael's monthly salary, we divided his annual salary by 12. The result was $2,913. This is closest to option B, $2,912.
Key Takeaways
- To find the monthly salary, divide the annual salary by 12.
- The result should be rounded to the nearest dollar.
- The correct answer is $2,913, which is closest to option B, $2,912.
Practice Problems
- If John earned a salary of $45,600 last year, how much did he earn per month?
- If Emily earned a salary of $32,400 last year, how much did she earn per month?
Answer Key
- $3,800
- $2,700
Frequently Asked Questions (FAQs) about Monthly Salary Calculations ====================================================================
Q: What is the formula to calculate monthly salary?
A: The formula to calculate monthly salary is: Monthly Salary = Annual Salary / 12.
Q: How do I calculate monthly salary if I have a variable number of months?
A: If you have a variable number of months, you can calculate the monthly salary by dividing the annual salary by the number of months. For example, if you have 10 months, you can calculate the monthly salary as: Monthly Salary = Annual Salary / 10.
Q: Can I use a calculator to calculate monthly salary?
A: Yes, you can use a calculator to calculate monthly salary. Simply enter the annual salary and divide it by 12 to get the monthly salary.
Q: What if I have a decimal result when calculating monthly salary?
A: If you have a decimal result when calculating monthly salary, you can round it to the nearest dollar. For example, if the result is $2,913.50, you can round it to $2,913.
Q: Can I calculate monthly salary for a non-annual salary?
A: Yes, you can calculate monthly salary for a non-annual salary. For example, if you have a bi-annual salary of $20,000, you can calculate the monthly salary as: Monthly Salary = Bi-Annual Salary / 6.
Q: How do I calculate monthly salary for a salary with a commission or bonus?
A: To calculate monthly salary for a salary with a commission or bonus, you need to first calculate the total annual salary, including the commission or bonus. Then, you can divide the total annual salary by 12 to get the monthly salary.
Q: Can I use a spreadsheet to calculate monthly salary?
A: Yes, you can use a spreadsheet to calculate monthly salary. Simply enter the annual salary and divide it by 12 to get the monthly salary.
Q: What if I have a negative annual salary?
A: If you have a negative annual salary, you cannot calculate a positive monthly salary. In this case, you may need to re-evaluate your salary or seek additional income.
Q: Can I calculate monthly salary for a salary with a variable rate?
A: Yes, you can calculate monthly salary for a salary with a variable rate. For example, if you have a salary that increases by 10% each year, you can calculate the monthly salary for each year and then average the results.
Q: How do I calculate monthly salary for a salary with a non-standard pay period?
A: To calculate monthly salary for a salary with a non-standard pay period, you need to first calculate the total annual salary, taking into account the non-standard pay period. Then, you can divide the total annual salary by 12 to get the monthly salary.
Conclusion
Calculating monthly salary is a simple process that involves dividing the annual salary by 12. However, there are many variations and exceptions to this rule, and it's essential to consider these factors when calculating monthly salary. By following the formulas and guidelines outlined in this article, you can accurately calculate your monthly salary and make informed decisions about your finances.