Question

You make $10.25 per hour. You have 7.5% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week

Answer 1

The amount that will be taken off the pay check for the 401k retirements plan given all the criteria indicated above is $38.82 (Option D)

What is the computation justifying the above?

Given:

Pay Per Hour: $10.25

Bonus: $15.375‬ for every hour worked over forty hours.

Total Hour worked: 47 Hours

Percentage deductible: 7.5%

Total Pay thus =

(40 *10.25) + (7 *15.375)

= $517.625

Total 401 K deduction thus, =

7.5% * 517.625

401K Deduction total = $38.82

Learn more about 401k retirements plan:
brainly.com/question/2908111
#SPJ1

Full Question:

You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.

Select one:

A. $36.13

B. $69.02

C. $54.20

D. $38.82

E. $14.35