Raquel has gross pay of $732 and federal tax withholdings of $62. Determine Raquel’s net pay if she has the additional items wit
2 answers:
Answer:
The net pay of the Raquel be $601 .
Step-by-step explanation:
As given
Raquel has gross pay of $732 and federal tax withholdings of $62.
Social Security tax that is 6.2% of her gross pay .
6.2% is written in the decimal form.
= 0.062
Social Security tax = 0.062 × Gross pay
= 0.062 × 732
= $ 45.38 (Approx)
As given
Medicare tax that is 1.45% of her gross pay .
1.45% is written in the decimal form.
= 0.0145
Medicare Tax = 0.0145 × Gross pay
= 0.0145 × 732
= $ 10.6 (Approx)
As given
State tax that is 21% of her federal tax.
21% is written in the decimal form.
= 0.21
State tax = 0.21 × Federal tax
= 0.21 × 62
= $13.02
Total amount of the tax = Federal tax + Social Security tax + Medicare Tax + State tax
Putting all the values in the above
= $62 + $45.38 +$10.6 + $13.02
= $ 131
Raquel’s net pay = Gross pay - Total amount of taxes
= $732 - $131
= $ 601
Therefore the net pay of the Raquel be $601 .
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