Question

Using the information you know about determining an individual’s paycheck, use the following data to calculate the net pay. What's the best response below? Jesse earned $530.00 for two weeks of work $32.86 in Social Security Tax $7.69 in Medicare Tax

A. $416.45

B. $489.45

C. $497.14

D. $530.00

This question is actually a personal finance/business question, it just isn't a subject option on here

Answer 1

B) `489.45`

Explanation:

The question assumes that all figures are deductions from the gross pay. No adjustments are made for SST splitting or other taxes. So, the NET is just the GROSS less the taxes.

`530 - 32.86 - 7.69 = 489.45`