Question

Al gets paid semimonthly. His gross pay for each pay period is $750.He has 18% withheld for taxes and 48 withheld for personal deductions.What is the amount of his annual net pay?a. $7,200b. $14,040c. $15,300d. $15,600

Answer 1

so given $750 as gross pay

18% withheld for taxes

48 withheld for personal term this also means 4%

18% = 0.18

4% = 0.04

so to get the annual net,

750 x (1 - 0.18 - 0.04) x 24

= 14040

=$14, 040

this makes option B the corect answer