To calculate your bi-weekly direct deposit, we first need to find your gross pay for the bi-weekly period and then subtract the applicable deductions.
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Calculate Gross Pay:
- Hourly Wage: $7.80/hr
- Hours Worked per Week: 35 hours
- Weeks in a Bi-weekly Pay Period: 2 weeks
\[ \text{Gross Pay} = \text{Hourly Wage} \times \text{Hours per Week} \times \text{Weeks in Period} \]
\[ \text{Gross Pay} = 7.80 \times 35 \times 2 = 7.80 \times 70 = 546 \]
So, the gross pay for the bi-weekly period is $546.00.
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Calculate Deductions:
- FICA: 7.65%
- Federal Tax: 8.8%
- State Tax: 7.5%
To find the total deductions, we compute each component:
\[ \text{FICA} = 546 \times 0.0765 = 41.74 \]
\[ \text{Federal Tax} = 546 \times 0.088 = 48.05 \]
\[ \text{State Tax} = 546 \times 0.075 = 40.95 \]
Adding all deductions together:
\[ \text{Total Deductions} = 41.74 + 48.05 + 40.95 = 130.74 \]
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Calculate Net Pay: \[ \text{Net Pay} = \text{Gross Pay} - \text{Total Deductions} \]
\[ \text{Net Pay} = 546 - 130.74 = 415.26 \]
So, your bi-weekly direct deposit would be approximately $415.26.