Maria works for a salary of $2,750 per month. She has federal income tax withheld at the rate of 15 percent, Social Security tax withheld at the rate of 7.2 percent, Medicare tax withheld at the rate of 1.37 percent, and health insurance premiums of $76 per month. Maria’s net pay is $____________.

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anthougo anthougo · Answer 1 · 2022-09-13T15:31:42+02:00

Maria’s net pay is $2,025.82.

The net pay is the gross pay minus mandatory and voluntary deductions, like taxes, insurance, and other expenses.

The net pay represents the amount of money the income earner receives.

The net pay is also known as the take-home.

Monthly salary = $2,750

FICA withholding = 15%

Social security tax withholding = 7.2%

Medicate tax withholding = 1.37%

Health Insurance Premium = $76 per month

Total withholding = 23.57%

= $648.18 (2,750 x 23.57%)

Total deductions and withholding = $724.18 ($76 + $648.18)

Net pay = $2,025.82 ($2,750 - $724.18)

Thus, Maria's net pay after the withholdings and deductions is $2,025.82.

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