Quintina decided to increase the deduction percentage of her federal income tax rate from 14% to 16%. Quintina’s gross pay per month is $2,100. Her deductions before the change are listed in the table.

Deduction
Dollar Amount
Federal Income Tax
$294
State Income Tax
$89
Social Security
$85
Medicare
$35

What is her new monthly net pay? Round your answer to the nearest dollar.
$1555
$1591
$1595
$1639
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sakthimalar sakthimalar · Answer 1 · 2021-09-11T08:40:37+02:00

Answer:

The monthly net pay is [tex]\$1555[/tex].

Step-by-step explanation:

Step 1 :

Quintina decided to increase the deduction percentage of her federal income tax rate from [tex]14\%[/tex] to [tex]16\%.[/tex]

Quintina gross pay per month is [tex]\$2,100[/tex]

[tex]16\%[/tex] is written in the decimal form.

[tex]=\frac{16}{100}[/tex]

[tex]=0.16[/tex]

Federal income tax

[tex]=0.16[/tex] × Gross pay

[tex]=0.156[/tex] × [tex]2100[/tex]

[tex]=336[/tex]

Step 2:

Monthly net pay = Gross pay- Federal income tax - State Income Tax – social Security- Medicare.

[tex]=2100-336-89-85-35[/tex]

[tex]=2100-545[/tex]

[tex]=\$1555[/tex]

Therefore, the monthly net pay is [tex]\$1555.[/tex]

Learn more about income tax, refer:

jessicahaha07 jessicahaha07 · Answer 2 · 2021-10-01T20:36:42+02:00

Answer$1555

Step-by-step explanation:

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