Keegan's annual growth income is $66,800 but FICA is deducted from his paycheck, and 28% of his salary is with held for income taxes (federal, state and local), as well. If his employer pays 85$ of the cost of a $2600 - per year health insurance plan, and if health insurance is Keegan's only optional deduction, what's his monthly take home pay?

Question

Mathematics

Suarez

14 January, 06:20

Keegan's annual growth income is $66,800 but FICA is deducted from his paycheck, and 28% of his salary is with held for income taxes (federal, state and local), as well. If his employer pays 85$ of the cost of a $2600 - per year health insurance plan, and if health insurance is Keegan's only optional deduction, what's his monthly take home pay?

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Answers (2)

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Marilyn Kline · Answer 1

Annual gross = 66,800

(1 - 0.28) * 66,800 = 48,096 ... annual after tax

(1 - 0.85) * 2600 = 390 ... health insurance costs

Annual after all deductions = 48,096 - 390 = 47,706

Monthly = 47,706/12 = 3975.5

Hence answer (B)

Van Klein · Answer 2

apex answer is 3549.65