Question

Leon has an annual income of $18,500. He has 22% of his grosssalary withheld for deductions. What is the net amount of eachpaycheck if he gets paid biweekly?a. $177.88b. $711.54c. $578.12d. $555

Answer 1

Answer:

Net amount of each paycheck = $555

Option D

Step-by-step explanation:

The annual income = $18500

Percentage deduction = 22%

Deduction = 22% of 18500

Deduction = (22/100) x 18500

Deduction = $4070

Annual net income = $18500 - $4070

Annual net income = $14430

If he gets paid biweekly, he will be getting payments 26 times annually

We will divide the net annual income by 26 to get the net amount of each paycheck

Net amount of each paycheck = $14430/26

Net amount of each paycheck = $555