Answer to Question #231484 in Financial Math for Sam

Question

Danny just answered a help wanted ad. The ad states that the job pays $37.5k. What would Danny’s monthly salary be if he gets this job?

Answer 1

We know that 

$1K =$1000

We need to divided annual salary by 12 to get monthly salary, because there are 12 months in a year

Annual salary$=37.5\times\$1000 =\$37500$

Monthly salary $=\frac{\$37500}{12} =\$3125$

Hence Danny’s monthly salary will be $3125 if he gets this job