100
RCMultiple Choice

Topic Test — Cumulative exam

Question 100 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

Jasmine has a gross pay of $754.80. By how much will Jasmine’s gross pay be reduced if she has the following items withheld?federal tax of $31Social Security tax that is 6.2% of her gross payMedicare tax that is 1.45% of her gross paystate tax that is 18% of her federal tax

Answer
A
$94.32
B
$192.83
C
$224.60
D
$323.11

Explanation

Add the federal tax, Social Security tax, Medicare tax, and state tax. Social Security is 6.2% of $754.80, or about $46.80, and Medicare is 1.45% of $754.80, or about $10.94. The state tax is 18% of the $31 federal tax, which is $5.58. Altogether, $31 + $46.80 + $10.94 + $5.58 = $94.32, so the correct choice is $94.32.

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