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Zanzabum
3 years ago
11

You earn $8.60/hr. You work 32 hr/wk and your deductions are FICA (7.65%), federal tax withholding (10.6%), and state tax withho

lding (8.25%). How much do you have direct-deposited bi-weekly?
Mathematics
1 answer:
Olin [163]3 years ago
4 0

Answer:

Your bi-weekly deposit is $404.54.

Step-by-step explanation:

At a $8.60 per hour wage for 32 hours per week, your gross pay each week is $275.20, or $550.40.  However, your deductions and tax withholdings total 26.5% taken from your gross pay.  Multiplying $550.40 by 26.5%, or .265, is a total of $145.86.  Your realized income, or what you will make after taxes, would be $550.40-$145.86 = $404.54.  So, every two weeks, or bi-weekly, your direct deposit would be in the amount of $404.54.

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