Answer:
$286.28
Explanation:
Working 43 hours at a rate of $9 per hour gives John
43(9) = $387 gross pay.
Social Security is 6.2% of gross pay; 6.2% = 6.2/100 = 0.062; this gives us a deduction of
387(0.062) = 23.994 ≈ $23.99
Medicare is 1.45% of gross pay; 1.45% = 1.45/100 = 0.0145; this gives us a deduction of
387(0.0145) = 5.6115 ≈ $5.61
Health insurance is a deduction of $15.
401(k) contributions are 5% of gross pay; 5% = 5/100 = 0.05; this gives us a deduction of
387(0.05) = $19.35
Federal tax is deducted <em>after</em> the 401(k) contribution. This means the tax is going to be 10% of
387-19.35 = $367.65
10% = 10/100 = 0.1; this gives us a deduction of
367.65(0.1) = 36.765 ≈ $36.77
This gives John a net pay of:
387-23.99-5.61-15-19.35-36.77 = $286.28
