Question

1. Kane earns an annual salary of $42,500.

Answer 1

Answer:

$1753.13

Step-by-step explanation:

Kane's Annual Salary  = $42,500

Gross Pay = $42,500

Net Pay = Gross Pay - 1% of Gross Pay

=42500 - (0.01 X 42500)

=$42,075

Since he is paid twice a month with paychecks being  of equal amounts.

Number of Payments in a Year =12 X 2= 24

Therefore, Kane's Take Home pay after Medicare taxes

$= \ 42075 \div 24\\=\ 1753.13 (to the nearest cent)$