Cleanerrsquos inc is switching to paying employees every 2, Ask an Expert

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Cleaner’s, Inc., is switching to paying employees every 2 weeks rather than weekly and will therefore “skip” 1 week’s pay. The firm has 25 employees who work a 60- hour week and earn an average wage of $12.50 per hour. Using a 10% rate of interest, how much will this change save the firm annually?

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