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Anastasy [175]
3 years ago
6

Take-home pay is about 70% of gross pay. If your annual salary is $40,000

Business
1 answer:
otez555 [7]3 years ago
3 0

Answer:

$28,000

Explanation:

The annual salary is $40,000

Take home is 70% of $40,000

=70% x $40,000

=70/100 x $40,000

=0.7 x $40,000

=$28,000

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Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.
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$3878.55

Explanation:

Step 1 :

It is given that Kristy has a biweekly gross earnings of $1950.

Since it is bi-weekly payments there are 26 payments in the year.

Gross earnings per year = 1950 * 26 = $50,700

Step 2 :

It is given that the social security tax is 6.2% up to $128,400. Kristy's earnings of 50,700$ does not exceed the threshold $128,400, hence 6.2% of her entire income is subject to social security withholding.

Social security withholding = 6.2% of 50,700 = 6.2*50700/100 = $3143.40

Step 3 :

It is given that Medicare tax is 1.45% with no wage limit

Medicare withholding = 1.45% of 50,700 = 1.45*50700/100 = $735.15

Total withholding = Social Security withholding + Medicare withholding 3143.40 + 735.15 = $3878.55

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4 years ago
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<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>

A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.

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From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

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A firm commitment arrangement with an investment banker occurs when the: issue is solidly accepted in the market as evidenced by
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Answer:

A firm commitment arrangement with an investment banker occurs when an investment banker buys the securities for less than the offering price and accepts the risk of not being able to sell them.

The correct option is B.

Explanation:

A firm commitment arrangement happens when an investment banker buys the securities for less than the offering price and accepts the risk of not being able to sell them.

However, the issuer receives a little less money than the offering price but he gets a specific amount for all the security being issued. The risk rests completely on the investment banker.

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