9
QuizMultiple Choice

Budgeting and Being a Smart Consumer — Quiz

Question 9 • 26-27 Career Planning and Development A/B 9842E 9843E

Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12 percent to 11 percent His monthly gross pay is 3 comma 500 dollars , and his deductions before the change are listed in the table. Deduction Dollar Amount Federal Income Tax 420 dollars State Income Tax 95 dollars Social Security 89 dollars Medicare 40 dollars What will be his new monthly net pay? Round your answer to the nearest dollar.

Answer
A
2 comma 857 dollars
B
2 comma 891 dollars
C
2 comma 860 dollars
D
2 comma 821 dollars
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Chin needs more money in his net pay each month…