118k views
3 votes
Angelo makes 620$ gross a week as a video game designer.Angelo pays 37$ in federal taxes ,15$ in state taxes ,47$ for health benefits ,6.2% in social security and 1.45% for Medicare .What is Angelo’s net pay for the week ?

1 Answer

1 vote

To calculate Angelo's net pay for the week, we need to subtract the taxes and deductions from his gross pay.

1. Start by subtracting the federal tax of $37 from the gross pay:

Gross pay - Federal tax = $620 - $37 = $583

2. Next, subtract the state tax of $15:

$583 - $15 = $568

3. Subtract the cost of health benefits, which is $47:

$568 - $47 = $521

4. Calculate the amount deducted for social security by multiplying the gross pay by 6.2% (0.062):

$620 * 0.062 = $38.44

5. Calculate the amount deducted for Medicare by multiplying the gross pay by 1.45% (0.0145):

$620 * 0.0145 = $8.99

6. Subtract the deductions for social security and Medicare from the previous result:

$521 - $38.44 - $8.99 = $473.57

Therefore, Angelo's net pay for the week is approximately $473.57.

User Abbott
by
7.8k points