Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

You earn $22 an hour and work 40 hours this week. Your Federal Income Tax rate is 20% and Social Security Tax rate is 5%. What is your net pay?

Sagot :

bangtanot7

Answer:

$660

Step-by-step explanation:

22*40 = 880 dollars. This is your gross pay.

Then, 880*0.2 (deduction of federal income tax rate) = 176 dollars

We also have to deduct the social security tax rate so, 880*0.05 = 44 dollars

Therefore, we totally have to deduct 176 + 44 dollars which is 220 dollars. 880-220 = 660.

Let me know if im wrong!

We appreciate your time. Please come back anytime for the latest information and answers to your questions. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.