Personal Finance Semester Exam

Question

6 of 406 of 40 Items

Question
Jocelyn worked 30 hours this week, earning $22.00 per hour. Her paycheck stub included the following withholdings:

Social Security: $40.92
Medicare: $9.57
federal income tax: $50.00
Calculate her net pay.

(1 point)
Responses

$660.00
$660.00

$609.51
$609.51

$569.08
$569.08

$559.51

Answer 1

Correct response: $609.51

Calculation:
Gross pay = 30 hours x $22.00 per hour = $660.00
Total withholdings = $40.92 + $9.57 + $50.00 = $100.49
Net pay = Gross pay - Total withholdings = $660.00 - $100.49 = $559.51.