Question

Stephen earns $11 per hour at his job. Last month, Stephen worked for 32 hours. On his paycheck, Stephen noticed that he paid $37.30 for federal income tax, $21.82 for Social Security, and $5.10 for Medicare. Explain how to find Stephen's net income.

Answer 1

He will earn $287.78

Answer 2

Answer:

$ 287.73

Step-by-step explanation:

Given,

The number of hours Stephen worked = 32 hours,

Wages per hour = $ 11,

Thus, total revenue = 32 × 11 = $ 352

Now, Federal income tax = $ 37.30,

Social security = $ 21.87,

Medicare = $ 5.10,

Thus, the total expenditure = 37.30 + 21.87 + 5.10 = $ 64.27,

Hence, Stephen's net income = revenue - expenditure

= 352 - 64.27

= $ 287.73