Question

14. (03.04 LC)

Malia's net pay, after a $98.00 automatic savings withdrawal, is $1,354.00. Determine what percent of Malia's net pay is automatically withdrawn for savings. Round to the nearest tenth. (4 points
5.1%
5.7%
6.1%
6.7%

Answer 1

6.7% of Malia's net pay is automatically withdrawn for savings. We calculated this percentage by dividing the savings withdrawal amount by the total net pay before the withdrawal and then multiplying by 100.

Therefore, the correct answer is: option '6.7%'

Step-by-step explanation:

To determine what percent of Malia's net pay is automatically withdrawn for savings, we first need to know two amounts: the amount of money withdrawn and the total net pay.

We are given that her net pay after savings withdrawal is $1,354.00, and the amount automatically withdrawn for savings is $98.00.

The formula to calculate the percentage of savings withdrawn from the net pay is: (amount withdrawn for savings / net pay after withdrawal) × 100

We add back the amount withdrawn to get the actual total net pay before the savings withdrawal:

$1,354.00 + $98.00

= $1,452.00

Now we use the formula:

($98.00 / $1,452.00) × 100

= 6.75%

Rounded to the nearest tenth, it is 6.7% of Malia's net pay that is automatically withdrawn for savings.