Question

You decide to get a part-time job at a local hardware store. The job pays $11.00 an hour and you will work 20 hours a week. Your employer withholds 10% of your gross pay for federal taxes, 5.65% for FICA taxes, and 2.5% for the state tax
What is your weekly net pay

Answer 1

To calculate your weekly net pay, we first need to figure out your gross pay for the week, then subtract the taxes withheld.

1. **Calculate Gross Pay:**
\[
\text{Gross Pay} = \text{Hourly Wage} \times \text{Hours Worked}
\]
\[
\text{Gross Pay} = 11.00 \, \text{USD/hour} \times 20 \, \text{hours} = 220.00 \, \text{USD}
\]

2. **Calculate Taxes Withheld:**

- **Federal Taxes:**
\[
\text{Federal Tax} = \text{Gross Pay} \times 0.10 = 220.00 \times 0.10 = 22.00 \, \text{USD}
\]

- **FICA Taxes:**
\[
\text{FICA Tax} = \text{Gross Pay} \times 0.0565 = 220.00 \times 0.0565 = 12.43 \, \text{USD}
\]

- **State Taxes:**
\[
\text{State Tax} = \text{Gross Pay} \times 0.025 = 220.00 \times 0.025 = 5.50 \, \text{USD}
\]

3. **Total Taxes Withheld:**
\[
\text{Total Taxes} = \text{Federal Tax} + \text{FICA Tax} + \text{State Tax}
\]
\[
\text{Total Taxes} = 22.00 + 12.43 + 5.50 = 39.93 \, \text{USD}
\]

4. **Calculate Net Pay:**
\[
\text{Net Pay} = \text{Gross Pay} - \text{Total Taxes}
\]
\[
\text{Net Pay} = 220.00 - 39.93 = 180.07 \, \text{USD}
\]

Therefore, your weekly net pay is **$180.07**.