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1. Kane earns an annual salary of $42,500.

He is paid twice a month with paychecks being

of equal amounts. If Medicare taxes

represent 1% of his income, then how much

will Kane bring home after Medicare taxes?

Respuesta :

Answer:

$1753.13

Step-by-step explanation:

Kane's Annual Salary  = $42,500

Gross Pay = $42,500

Net Pay = Gross Pay - 1% of Gross Pay

=42500 - (0.01 X 42500)

=$42,075

Since he is paid twice a month with paychecks being  of equal amounts.

Number of Payments in a Year =12 X 2= 24

Therefore, Kane's Take Home pay after Medicare taxes

[tex]= \$42075 \div 24\\=\$1753.13$ (to the nearest cent)[/tex]

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