2^5 ... 2 x 2 x 2 x 2 x 2
The answer is 8
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Given that Janice monthly salary is $2,396. And she has deductions of federal income tax withheld at the rate 15%, social security tax at the rate of 6.2% and medicare tax at the rate of 1.45% and health insurance premium worth 95$ per month.
Let us calculate total deductions.
Federal income tax = 15% of 2396 = 0.15*2396 =$359.4
Social security tax = 6.2% of 2396=0.062*2396 =$148.552
Medicare tax = 1.45% of 2396= 0.0145*2396=$34.742
<u>health insurance premium =$95 </u>
Total deductions = $637.694
To calculate Janice net pay we have to subtract deductions from monthly salary that is 2396-637.694 = $1758.306
Hence net pay of Janice is $1758.306 per month.
