Question

You earn $420 per week. You pay social security taxes of 7.65%, federal taxes of 22%, and state taxes of 5.95%. What is your take home pay?

Answer 1

7.65+
5.95+
22= 35.6

Multiply 420$
35.6=
149.50$

Minus 149.50 from 420$
=270.48 will be your take home pay

Answer 2

Your take home pay is $270.48

Step-by-step explanation

Your gross earnings per week is $420

You pay social security taxes of 7.65%, federal taxes of 22% and state taxes of 5.95%

So, the amount of social security taxes
`=\$420*(7.65)/(100)= \$32.13`

the amount of federal taxes
`=\$420*(22)/(100)= \$92.40`

and the amount of state taxes
`=\$420*(5.95)/(100)= \$24.99`

Thus, the total amount of tax deducted from the gross earnings
`=(\$32.13+\$92.40+\$24.99)=\$149.52`

So, your take home pay will be:
`(\$420-\$149.52)= \$270.48`