Question

Suppose Jim worked 75 hours during this payroll period and is paid $11.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and withholding tax is 10%. Calculate Jim's net paycheck for the period.

Answer 1

686.37

Explanation:

11.00*75=825

6.2% + 1.45% + 10% = 0.0691889

825.00 - 0.0691889%=686.3662575