Question

Jay Panetta earned gross pay of $410 last week. From his gross pay the following were subtracted: federal withholding tax, $37; Social Security tax, 6.2%; Medicare tax, 1.45%; health insurance, $34.88; and $40 for his savings plan. Find Jay's net pay.

Answer 1

Find Jays net pay

Net pay = 410 - 37 -34.88 -40 - N(6.2%) - N(1.45%)

. = 298.12 - (410 • 6.2/100) - (410• 1.45/100)

. = 298.12 - 25.42 - 5.94

. = 266.76

In consecuence Jay's net pay is $ 266.76 dollars