Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - Chapter 8 Test - Page 573: 6

Answer

a. $150$ b. $15$ c. $8.48$ d. $4.50$ e. $122.02$ f. $18.7\%$

Work Step by Step

a. Weekly gross pay = $10 \cdot15 = 150$ b. Federal Taxes = $150 \cdot 0.1 = 15$ c. FICA Tax = $150 \cdot 0.0565 = 8.48$ d. State Tax = $150 \cdot 0.03 = 4.50$ e. Net pay = $150 - 15 - 8.48 - 4.50 = 122.02$ f. Total percentage = $0.1+0.0565+0.03 = 0.1865 = 18.7\%$
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