Question

You earn $22 an hour and work 40 hours this week. Your Federal Income Tax rate is 20% and Social Security Tax rate is 5%. What is your net pay?

Answer 1

$660

Explanation:

22*40 = 880 dollars. This is your gross pay.

Then, 880*0.2 (deduction of federal income tax rate) = 176 dollars

We also have to deduct the social security tax rate so, 880*0.05 = 44 dollars

Therefore, we totally have to deduct 176 + 44 dollars which is 220 dollars. 880-220 = 660.

Let me know if im wrong!