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Darya [45]
4 years ago
7

An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400

earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $208 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $176 and contributes $88 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? a. $5,207.b. 53.c. $5,296.70.d. $5,158.32.e. $4,826.22.f. $4,875.42.
Business
1 answer:
Dvinal [7]4 years ago
6 0

Answer:

$4838.5

Explanation:

We can calculate the amount of net pay for the employee for the month of January by deducting all the monthly expenses from the employee's monthly salary which is $5,750.

Wages Per Month                                 $5,750

Less:

Federal Income Taxes Withheld         $208

FICA Social Security                             $356.5

FICA Medicare                                      $83

Health Insurance                                  $176

Retirement Plan                                 $88

Net Pay for the employee                 $4838.5

Woeking

FICA(social security) = 5,750 x 6.2% = 356.5

FICA(Medicare) = 5750 x 1,45% = 83

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Answer:

12.88%

Explanation:

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net cash flow $241

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Angela's monthly savings rate = (net cash flow / disposable income) x 100 = $305 / $2,368 = 12.88%

A person's savings rate is how much money they save (do not spend) compared to their total disposable income.

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3 years ago
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3 years ago
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lubasha [3.4K]

Answer:

B) diminishing marginal utility

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As utility falls, consumers would be unwilling to buy more goods at the same price, therefore it would be reasonable to reduce price to encourage consumption.

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3 years ago
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If a certain household earns and spends $24,000 per year and, on average, holds a money balance of $6,000, then the velocity of money for this household is 4.

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4 0
2 years ago
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sukhopar [10]

Answer:

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Therefore the above represent the answer

and, this is the answer but the same is not provided in the given options

5 0
3 years ago
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