In a week, a man received a paycheck for $240.70. The withholding for taxes was $95.30. If he worked 28 hours in that week, what is his hourly pay rate?
To find the hourly pay rate, we need to divide the paycheck amount minus the withholding for taxes by the number of hours worked.
Hourly pay rate = (Paycheck amount - Withholding for taxes) / Number of hours worked
Hourly pay rate = ($240.70 - $95.30) / 28
Hourly pay rate = $145.40 / 28
Hourly pay rate = $5.193 (rounded to 3 decimal places)
Therefore, his hourly pay rate is $5.193.
you sure there?
Apologies for my previous response. Let's correct the calculation.
To find the hourly pay rate, we need to divide the paycheck amount minus the withholding for taxes by the number of hours worked.
Hourly pay rate = (Paycheck amount - Withholding for taxes) / Number of hours worked
Hourly pay rate = ($240.70 - $95.30) / 28
Hourly pay rate = $145.40 / 28
Hourly pay rate = $5.1929 (rounded to 4 decimal places)
Therefore, his hourly pay rate is $5.1929.
To find the hourly pay rate, you need to divide the total paycheck (after taxes) by the number of hours worked in that week.
Step 1: Subtract the withholding for taxes from the total paycheck.
Total paycheck - Withholding for taxes = $240.70 - $95.30 = $145.40
Step 2: Divide the total paycheck (after taxes) by the number of hours worked.
Hourly pay rate = Total paycheck (after taxes) / Number of hours worked
Hourly pay rate = $145.40 / 28 hours ≈ $5.19
Therefore, the man's hourly pay rate is approximately $5.19.