Note Enter your answer and show all the steps that you use to solve this problem in the space provided
You are still debating about the two different computers If you are paid $10.00/hour and your deductions are FICA (7.65%), federal tax withholding (12%), and state tax withholding (8%), how many hours do you have to work to pay for the new computer?
Be sure to include the following in your response
.The answer to the onginal question
. The mathematical steps for solving the problem demonstrating mathematical reasoning
To solve this problem, we need to calculate the total deductions from the hourly wage and then divide the cost of the computer by the remaining amount per hour to determine the number of hours needed to pay for the new computer.
First, let's calculate the total deductions:
FICA withholding = 7.65% of $10.00 = (7.65/100) * $10.00 = $0.765
Federal tax withholding = 12% of $10.00 = (12/100) * $10.00 = $1.20
State tax withholding = 8% of $10.00 = (8/100) * $10.00 = $0.80
Total deductions = FICA withholding + Federal tax withholding + State tax withholding = $0.765 + $1.20 + $0.80 = $2.765
Now, let's calculate the remaining amount per hour:
Hourly wage - Total deductions = $10.00 - $2.765 = $7.235
Finally, let's determine the number of hours needed to pay for the new computer:
Number of hours = Cost of computer / Remaining amount per hour
Assuming the cost of the computer is C dollars:
Number of hours = C / $7.235
So, the answer to the original question is that you need to work C / $7.235 hours to pay for the new computer.
Can you give just the steps to this with the answer
Sure! Here are just the steps to solve this problem with the answer:
1. Calculate total deductions: FICA withholding (7.65%) + Federal tax withholding (12%) + State tax withholding (8%)
2. Calculate each deduction amount: FICA withholding = 0.0765 * hourly wage, Federal tax withholding = 0.12 * hourly wage, State tax withholding = 0.08 * hourly wage
3. Add up the deduction amounts to get the total deductions.
4. Subtract the total deductions from the hourly wage to get the remaining amount per hour.
5. Divide the cost of the new computer by the remaining amount per hour to find the number of hours needed to pay for the computer.
Answer: The number of hours needed to pay for the new computer is (Cost of computer) / (hourly wage - total deductions)
Can you give me the answer and steps
Certainly! Here are the steps with the answer:
1. Calculate total deductions:
FICA withholding = 7.65% of $10.00 = (7.65/100) * $10.00 = $0.765
Federal tax withholding = 12% of $10.00 = (12/100) * $10.00 = $1.20
State tax withholding = 8% of $10.00 = (8/100) * $10.00 = $0.80
Total deductions = $0.765 + $1.20 + $0.80 = $2.765
2. Calculate remaining amount per hour:
Hourly wage - Total deductions = $10.00 - $2.765 = $7.235
3. Determine the number of hours needed to pay for the new computer:
Let's assume the cost of the computer is $1000.
Number of hours = Cost of computer / Remaining amount per hour
Number of hours = $1000 / $7.235
Number of hours ≈ 138.05 hours
Answer: You would need to work approximately 138.05 hours to pay for the new computer.
Give me the answer with out words??
Cost of computer = C
Hourly wage = $10.00
FICA withholding = 0.0765 * $10.00
Federal tax withholding = 0.12 * $10.00
State tax withholding = 0.08 * $10.00
Total deductions = FICA withholding + Federal tax withholding + State tax withholding
Remaining amount per hour = Hourly wage - Total deductions
Number of hours = C / Remaining amount per hour
Answer: Number of hours = C / (Hourly wage - Total deductions)