I want to show the solution of this problem "what does Mary Rose take home", I found this problem is to helpful to me I hope you guys do to.
This is the problem and solution..........
What Does Mary Rose Take Home?
Mary Rose works part time and is paid $500.00 gross pay semi-monthly.For her wages she estimates her CPP contribution to be about 3% of her gross pay, her EI contribution to be about 2% of her gross pay, and her income tax about 20%.
(a) Find Mary Roses' estimated total deductions and net pay.
(b) Find Mary Roses' actual total deductions and net pay.
a) 3%/100%=0.03 2%/100%=0.02 20%/100%=0.2
0.03 * $500.00=$15 0.02*$500=$10 0.2*$500=$100
CPP=$ 15 $ 500 b) $500 $500
EI=$ 10 -$ 125 CPP=$ 17.53 -$140.33
FT=$ 100 ______ EI=$ 66.80 _______
PT=$ 100 $ 375/net pay FT=$ 47.00 $359.67/net pay
_______ __________
$ 225 $140.33
_______ __________
$ 225 $140.33
The next scribe will be jay........