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18 November, 23:57

Jerome Jones delivers pizza for Papa's Pizza. He earns $7.80 an hour plus time-and-a-half for every hour over 40. Last week he worked 45 hours. Deductions included Social Security at 6.2% of gross, Medicare at 1.45% of gross, and federal income tax of $14. What was Jones' net pay, rounded to the nearest cent?

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  1. 19 November, 00:18
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    His net pay is $328.16.

    The first step is to calculate Jerome's salary.

    Regular time - 40 x $7.80 = $312

    Overtime - 5 x $7.80 x 1.5 = $58.50

    Total Salary = $312 + 58.50 = $370.50

    The next step is to calculate the deductions:

    Social security = 370.50 x. 062 = $22.97

    Medicare = 370.50 x. 0145 = $5.37

    Federal Income Tax = $14

    Total Deductions = 22.97 + 5.37 + 14 = $42.34

    $370.50 - $42.34 = $328.16
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