question 11 (4 points)\nyour gross pay is $1,274.90 on a weekly basis. your deductions are listed below.\n…

question 11 (4 points)\nyour gross pay is $1,274.90 on a weekly basis. your deductions are listed below.\n- 12% withholding for federal income tax\n- 7.65% for social security and medicare taxes\n- $13.18 health insurance cost (pre - tax)\n- $75 contribution to a 401(k) retirement fund (pre - tax)\nwhat is your weekly net pay?\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

question 11 (4 points)\nyour gross pay is $1,274.90 on a weekly basis. your deductions are listed below.\n- 12% withholding for federal income tax\n- 7.65% for social security and medicare taxes\n- $13.18 health insurance cost (pre - tax)\n- $75 contribution to a 401(k) retirement fund (pre - tax)\nwhat is your weekly net pay?\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

Answer

Explanation:

Step1: Calculate federal income tax deduction

$1274.90\times0.12 = 152.988$

Step2: Calculate Social - Security and Medicare tax deduction

$1274.90\times0.0765 = 97.53985$

Step3: Calculate total deductions

$152.988+97.53985 + 13.18+75=338.70785$

Step4: Calculate net pay

$1274.90 - 338.70785=936.19215\approx936.19$

Answer:

$936.19$