You earn $420 per week. You pay social security taxes of 7.65%, federal taxes of 22%, and state taxes of 5.95%. What is your tak

Question

Marizza181 [45]

3 years ago

10

You earn $420 per week. You pay social security taxes of 7.65%, federal taxes of 22%, and state taxes of 5.95%. What is your tak

e home pay?

Mathematics

2 answers:

shepuryov [24] · Answer 1 · 2022-05-21T23:12:12+03:00

shepuryov [24]3 years ago

8 0

We stared with $420 so..... 420-7.65% = $387.88 Then subtract 22% from $387.78 which give you $302.53 And last subtract 5.95% from $302.53 which give us the answer $284.52 So you will be taking home $284.52 I hope you understand and I hope my help is not a waste of time !

poizon [28] · Answer 2 · 2022-05-21T21:48:35+03:00

Given:
weekly pay : 420 per week
social security tax rate : 7.65%
federal taxes : 22%
state taxes: 5.95%

All these tax rates are applied to the weekly earnings.

social security tax : 420 x 7.65% = 32.13
federal tax : 420 x 22% = 92.40
state tax : 420 x 5.95% = 24.99

420 - 32.13 - 92.40 - 24.99 = 270.48 take home pay.