Question

1. Cynthia gets paid $13.50 an hour and her tax rate is 13%, what is her net pay?

2. She wants to put 60% in Savings and 40% in checking.

Answer 1

To calculate Cynthia's net pay, we multiply her hourly rate of $13.50 by (1 - 0.13) to account for the 13% tax rate. This gives us $11.745 as her net pay(that her net pay). Cynthia wants to put approximately $7.047 in savings and $4.698 in checking.