3
lesson pretestMultiple Choice

Pretest

Question 3 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

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