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Alex Ar [27]
2 years ago
11

Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deduction

s from her gross pay: federal tax from the following table Social Security tax that is 6. 2% of her gross pay Medicare tax that is 1. 45% of her gross pay state tax that is 21% of her federal tax Determine how Marilyn’s net pay will be affected if she increases her federal withholding allowances from 3 to 4. A. Her net pay will increase by $15. 0. B. Her net pay will decrease by $15. 0. C. Her net pay will increase by $18. 15. D. Her net pay will decrease by $18. 15.
Business
1 answer:
frutty [35]2 years ago
7 0

The net pay of Marilyn will increase by $18.15 due to the increase in the federal withholding allowances from 3 to 4.

<h3>The computation of net pay considering various federal withholding allowances</h3>

Given,

Gross pay =$810

3 Federal withholding allowances =$37 (taken from the reference table)

4 Federal withholding allowances =$22 (taken from the reference table)

Federal state tax rate =21%

First, the state tax rate and the total amount of withholding for 3 Federal withholding allowances are computed:

\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$37\times21\%\\&=\$7.77\end{aligned}

\begin{aligned}\text{Total Amount of 3 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$37+\$7.77\\&=\$44.77\end{aligned}

Now, the state tax rate and the total amount of withholding for 4 Federal withholding allowances are computed:

\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$22\times21\%\\&=\$4.62\end{aligned}

\begin{aligned}\text{Total Amount of 4 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$22+\$4.62\\&=\$26.62\end{aligned}

The difference in the net pay will be the difference between $44.77 and $26.62, which is $18.15.

Therefore, Marilyn withholding will decrease from $44.77 to $26.62 that is increasing the net pay by $18.15

Learn more about federal-state tax, refer to the link:

brainly.com/question/25828729

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Suppose the Fed carries out an open market sale of $100m and simultaneously decreases the minimum required reserve ratio from 10
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Answer:

loanable amount after Fed operation = $950 M

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attached below is the T-account table

Explanation:

Given data:

For assets : securities = $100 M ,  Loans = $800 M

For Liabilities :  Constant demand deposit = $1000 M

difference between the assets and liability = $100 M  and this makes the Banking system unbalanced hence the Banking system needs the intervention of the Fed. and the reduction in the required reserve ratio from 10% to 5% is the right action

How with the reserve ratio reduced to: 0.05

hence required  Minimum required securities after operation = 0.05 * 1000 M = 50 M

Note : Total demand deposits = securities + loanable amount

therefore loanable amount after Fed operation = $1000 M - $50 M = $950

Attached below is the T-table

When both tables are compared it can be seen that there is a significant increase  in the loanable amount after the Fed's operations and increase in Loanable amount transcends to increase in Monetary base

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3 years ago
The increases and decreases caused by business trasactions are recorded in specific accounts. tru or false
Likurg_2 [28]
The answer is true.
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For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertr
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Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly

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Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.

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2 years ago
Convert the following temperature to Celsius scale (a) 450 k, (b) 273 k, (c) 73 k.​
masya89 [10]

Answer: See explanation

Explanation:

To convert to Celcius scale from Kelvin, the formula to use is:

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a. 450k

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= 450 - 273

= 177°Celcius

(b) 273 k

Temperature in Celcius = Temperature in Kelvin - 273

= 273 - 273

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(c) 73 k

Temperature in Celcius = Temperature in Kelvin - 273

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3 years ago
What is the present value on January 1, 2016, of $30,000 due on January 1, 2021, and discounted at 12% compounded annually?What
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Present value Discount = $3,032.63

5 0
3 years ago
Read 2 more answers
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