Question

Find the net pay: 2345 gross pay, federal withholding 592, fica 179.40, local 22.05, health ins. 56.00.

1) 1,674.95
2) 3,194.45
3) 16,097.00
4) 1,495.55

Answer 1

The net pay is calculated by subtracting federal withholding, FICA, local taxes, and health insurance from the gross pay, which equals $1,495.55. Option 4 is correct.

Step-by-step explanation:

To find the net pay, you need to subtract all the deductions including federal withholding, FICA, local taxes, and health insurance premiums from the gross pay. The net pay can be calculated as follows:

• Gross Pay: $2345
• Federal Withholding: $592
• FICA: $179.40
• Local Tax: $22.05
• Health Insurance: $56.00

Net Pay = Gross Pay - Federal Withholding - FICA - Local Tax - Health Insurance

Net Pay = $2345 - $592 - $179.40 - $22.05 - $56.00

Net Pay = $1495.55

Therefore, the correct answer is option 4) $1,495.55.