Question
Let's consider a case study. Assume a newly hired teacher receives $40,000 in annual income. Use this information and the additional information provided below to
Let's consider a case study. Assume a newly hired teacher receives $40,000 in annual income. Use this information and the additional information provided below to determine the twice monthly net take-home pay.
Gross annual income
-$40,000 a year
Federal income taxes
-$940 a year
Social Security and Medicare payroll deductions (7.65%)
-$3060 a year
What is your net annual take-home pay?Make sure to factor out taxes and deductions from your gross annual income.
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Macroeconomics
Authors: Stephen d. Williamson
5th Canadian edition
133847144, 9780134604794 , 978-0133847147
