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Juanita has a part-time job that pays $12/hour and works about 50 hours every month. Her withholdings are Social Security (6.2%), Medicare (1.45%) and federal income tax (10%). What is her approximate net pay?*2 points$120$500$600$700

Question

Juanita has a part-time job that pays 12/hourandworksabout50hourseverymonth.HerwithholdingsareSocialSecurity(6.212/hour and works about 50 hours every month. Her withholdings are Social Security (6.2%), Medicare (1.45%) and federal income tax (10%). What is her approximate net pay?*2 points120500500600$700

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Solution

To calculate Juanita's net pay, we first need to calculate her gross pay, which is the total amount she earns before any deductions are made.

Step 1: Calculate Gross Pay Juanita earns 12perhourandworksabout50hourseverymonth.So,hergrosspayis12 per hour and works about 50 hours every month. So, her gross pay is 12/hour * 50 hours/month = $600/month.

Step 2: Calculate Total Withholdings Next, we need to calculate the total amount that will be withheld from her pay for Social Security, Medicare, and federal income tax.

  • Social Security is 6.2% of her gross pay, so that's 6006.2/100=600 * 6.2/100 = 37.20.
  • Medicare is 1.45% of her gross pay, so that's 6001.45/100=600 * 1.45/100 = 8.70.
  • Federal income tax is 10% of her gross pay, so that's 60010/100=600 * 10/100 = 60.

The total amount withheld from her pay is 37.20+37.20 + 8.70 + 60=60 = 105.90.

Step 3: Calculate Net Pay Finally, we subtract the total withholdings from her gross pay to find her net pay. That's 600600 - 105.90 = $494.10.

So, Juanita's approximate net pay is 494.10permonth.Noneoftheoptionsprovidedexactlymatchthisamount,but494.10 per month. None of the options provided exactly match this amount, but 500 is the closest.

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