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Figure out Samuel's Net Pay using the following information.  Gross Monthly Earnings $4,200 Social Security Tax Rate 6.2% Medicare Tax Rate 1.45% Net Pay__________

Figure out Samuel's Net Pay using the following information.  Gross Monthly Earnings $4,200 Social Security Tax Rate 6.2% Medicare Tax Rate 1.45% Net Pay__________
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Figure out Samuel's Net Pay using the following information. 

Gross Monthly Earnings $4,200
Social Security Tax Rate 6.2%
Medicare Tax Rate 1.45%
Net Pay__________

User Andrew Neely
by
7.8k points

1 Answer

7 votes
Gross monthly earnings = $4,200
Social Security Tax = 0.062*4200 = $260.40
Medicare tax = 0.0145*4200 = $ 60.90

Net pay = 4200 - 260.40 - 60.90 = $3,878.70

Answer: $3,878.70
User JelteF
by
7.9k points
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