Question

Chris Meyer earned gross pay of $526 last week. Federal withholding taxes of $48, social security taxes of 6.2%, Medicare taxes of 1.45%, health insurance premiums of $45.80, and union dues of $12.56 were deducted from his gross pay. Find Chris' net pay. *

Answer 1

$379.41

Explanation:

Given that the gross pay is

$526

let us calculate all the deductions

1. Federal withholding taxes = $48

2. social security taxes of 6.2%= 526*(6.2/100)= $32.61

3. Medicare taxes of 1.45%= 526*(1.45/100)= $7.62

4. health insurance premiums = $45.80

5. union dues of =$12.56

total deduction= $146.59

the net pay is = 526-146.59

the net pay= $379.41