SOLUTION: If by mistake,I've ever forgotten, I will thank all responds to my post.
<b>
Suppose that $27.40 is withheld for federal income tax and $12.35 is withheld for Social Security,and
Algebra ->
Finance
-> SOLUTION: If by mistake,I've ever forgotten, I will thank all responds to my post.
<b>
Suppose that $27.40 is withheld for federal income tax and $12.35 is withheld for Social Security,and
Log On
Question 202381: If by mistake,I've ever forgotten, I will thank all responds to my post.
Suppose that $27.40 is withheld for federal income tax and $12.35 is withheld for Social Security,and your net pay is 134.25
How much less would the net pay be than the gross pay? _____ Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! Net Pay = Gross Pay minus whatever they take out.
They took out:
$27.40 for Federal Income Tax
$12.35 for Social Security.
-----
If that's all they took out, then your Gross Pay should be:
$134.25 + 27.40 + $12.35 = $174.00
-----
Your Net Pay is ($174.00 - $134.25) = $39.75 less than your Gross Pay.
-----
That should be the sum of ($27.40 + $12.35) = $39.75, which it is, assuming nothing else was taken out of your Gross Pay.
-----
Your Gross Pay is $174.00
Your Net Pay is $134.25
What was taken out was $39.75 which represents $39.75/$174.00 = .228448276 * 100% = 22.8448276% of your Gross Pay.
-----
