Answer:
$434
Explanation:
Gross Pay
- $7.75 per hour
- 40 hours per week
- Pay received every 2 weeks
⇒ Total gross pay = 7.75 × 40 × 2 = $620
Deductions
- Medical insurance = 8%
- Taxes = 12%
- Retirement = 10%
⇒ Total deductions = 8% + 12% + 10% = 30%
Net Pay
Net Pay = Total Gross Pay - Total deductions
= $620 - (30% of $620)
= $620 - (0.3 × $620)
= $620 - $186
= $434
Therefore, Cory's net pay will be $434.