Answer:
Net pay =$ 308
Explanation:
Net pay is the gross pay minus taxes
Net pay = gross pay - gross pay * tax rate
Simplifying this equation by factoring out gross pay
Net pay = gross pay (1- tax rate)
Gross pay = hours worked * hourly rate
Substituting this in
Net pay = hours worked * hourly rate (1- tax rate)
We know the
hours worked = 40
Hourly rate = 8.75
tax rate = .12
Net pay = 40 * 8.75 (1- .12)
Net pay = 350(.88)
Net pay =$ 308