Question

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?.

Answer 1

We have to work for Option(c) 89 hours to pay for the new computer.

First we will calculate all the deduction

FICA = $10 per hour x 0.0765 = $0.77 per hr

Fed tax = $10 per hr x 0.12 = $1.2 per hr

State tax = $10 per hr x 0.08 = $0.8 per hr

Remaining pay = 10 – 0.77 – 1.2 – 0.8 = $7.23 per hour

Now we will calculate the time with given information,

Time required = $640 / $7.23 per hr

Time required = 89 hours

Question:

You are debating about whether to buy a new computer for $800.00 or a refurbished computer with the same equipment for $640.00. 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 refurbished computer?

a. 111 hours

b. 98 hours

c. 89 hours

d. 87 hours

To Learn more about similar time related question:

https://brainly.com/question/2342543

#SPJ4