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13-10-2015
Mathematics

Answered

You earn $420 per week. You pay social security taxes of 7.65%, federal taxes of 22%, and state taxes of 5.95%. What is your take home pay?

Verified Answer :

13-10-2015

$420 x .0765 = $32.13
$420 x .22 = $92.40
$420 x .0595 = $24.99

The total of those three deductions comes to $149.52

Finally subtract that from 420. $420 - 149.52 = $270.48 - that is known as the net amount. (the $420 is called the gross amount).

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