Sam earned a salary of $4,000 on his last paycheck. Using the following percentages for deductions, calculate his net pay.
Social Security: 6.2%
Medicare: 1.45%
federal income tax: 10%
state income tax: 3%
local income tax: 2%
(1 point)
Responses
$3,094
$3,094
$3,600
$3,600
$3,752
$3,752
$3,694
To calculate Sam's net pay, we need to subtract the deductions from his salary.
Social Security deduction: 6.2% of $4,000 = $248
Medicare deduction: 1.45% of $4,000 = $58
Federal income tax deduction: 10% of $4,000 = $400
State income tax deduction: 3% of $4,000 = $120
Local income tax deduction: 2% of $4,000 = $80
Total deductions = $248 + $58 + $400 + $120 + $80 = $906
Net pay = Salary - Deductions = $4,000 - $906 = $3,094
Therefore, Sam's net pay is $3,094.
To calculate Sam's net pay, we need to subtract the deductions from his gross pay.
Social Security deduction: 6.2% of $4,000 = $248
Medicare deduction: 1.45% of $4,000 = $58
Federal income tax deduction: 10% of $4,000 = $400
State income tax deduction: 3% of $4,000 = $120
Local income tax deduction: 2% of $4,000 = $80
Total deductions = $248 + $58 + $400 + $120 + $80 = $906
Net pay (gross pay - deductions) = $4,000 - $906 = $3,094
Therefore, Sam's net pay is $3,094.