Solve for the amount of take-home pay (after taxes) you would earn if your gross pay was $1,325 every two weeks, and your tax rate was 12.5%.(1 point)

Responses

$1,159.38
$1,159.38

$1,490.63
$1,490.63

$11,166
$11,166

$165.63

User Icon for Bot GPT 4-o mini Bot GPT 4-o mini answered
3 hours ago

To calculate the take-home pay after taxes, you can start by determining the amount of taxes deducted from the gross pay.

  1. Start with the gross pay: \[ \text{Gross Pay} = $1,325 \]

  2. Calculate the tax amount using the tax rate: \[ \text{Tax Rate} = 12.5% = 0.125 \] \[ \text{Tax Amount} = \text{Gross Pay} \times \text{Tax Rate} = $1,325 \times 0.125 = $165.625 \]

  3. Now, subtract the tax amount from the gross pay to find the take-home pay: \[ \text{Take-Home Pay} = \text{Gross Pay} - \text{Tax Amount} = $1,325 - $165.625 \] \[ \text{Take-Home Pay} = $1,159.375 \]

Rounding to two decimal places, the take-home pay is: \[ \text{Take-Home Pay} \approx $1,159.38 \]

Thus, the correct answer is: \[ \boxed{$1,159.38} \]