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OLga [1]
3 years ago
13

Jose gross weekly salary as a logger is $630. He pays 6.2% Social Security tax, 1.45% Medicare tax, and $14.20 for health insura

nce. What is Jose monthly net pay?
Business
1 answer:
Slav-nsk [51]3 years ago
5 0

Answer:

$568

Explanation:

Gross salary = $630

Social security tax = 6.2%

Medicare tax = 1.4%

Health insurance = $14.20

We add up what is paid as tax

= 6.2 + 1.4 = 7.6%

7.6% of $630

= 0.076 x 630

= $47.88

So he pays tax of 47.88 dollars from his gross salary

We add his tax to what he pays for health insurance

= 47.88 + 14.20

= $62.08

the formula for net pay:

gross salary - deductions

= $630 - $62.08

= $567.92

this is approximately $568

thank you!

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