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Sagot :
Andres salary is $59,800 per year.
He is paid bi-weekly. (bi-weekly means 2 times in a week)
The taxes are as follow
Federal income tax = 15%
State income tax = 4%
Social Security and Medicare taxes = 7.65%
Part A. Convert the annual pay to bi-weekly.
We know that there are 52 weeks in a year and bi-weekly means 2 times in a week so
[tex]bi-weekly\: pay=\frac{\$59,800}{2\times52}=\frac{\$59,800}{104}=\$575[/tex]Therefore, the bi-weekly salary of Andres is $575.
Part B. How much money will he pay in taxes each paycheck?
[tex]\begin{gathered} Federal\: income\: tax=15\%\: of\: \$575=\frac{15}{100}\times\$575=\$86.25 \\ State\: income\: tax=4\%\: of\: \$575=\frac{4}{100}\times\$575=\$23 \\ Social\: Security\: tax=7.65\%\: of\: \$575=\frac{7.65}{100}\times\$575=\$43 \end{gathered}[/tex]Now add up the amount of taxes
[tex]Total\: taxes=\$86.25+\$23+\$44=\$153.25[/tex]Therefore, he will pay $153.25 in taxes each paycheck.
Part C. What is the net pay?
The net pay is the pay after deducting the taxes
So, subtract the total taxes from the gross pay
[tex]\begin{gathered} Net\: Pay=Gross\: Pay-Total\: taxes \\ Net\: Pay=\$575-\$153.25 \\ Net\: Pay=\$421.75 \end{gathered}[/tex]Therefore, the net pay is $421.75.
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