Semi-Monthly Income Example 2 (STA)
On May 16, Elvis reports starting a new job on May 15.
Elvis verifies the following:
●Pay dates are on the 1st and the 15th.
●The first paycheck will be received 06/01.
●The participant will work 20 hours per week.
●The rate of pay is $5.50 per hour.
Manually calculate the following:
●20 multiplied by $5.50 = $110 (Earnings per week)
●$110 multiplied by 2.15 = $236.50 (Earnings per pay period)
●$236.50 multiplied by 2 = $473 (Key this amount on STAA)