Wednesday, October 31, 2007

net pay

Today we started the class in grouping and we got three problem to solve the title are Summer Wages, everyone has to pay their dues, and what does Mary Rose take Home.

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

The next scribe will be jay........

1 comment:

Ellyse Haas (U of R Mentor) said...

Hey there!

Learning about Net Pay is really important and its awesome that you are able to post your math problems on a blog. Even though this math doesn't seem to relievant to you at the time, in the future it definatly will be. I use net pay to figure out what my pay cheques will roughyly be. I really wish that I were able to do that back in my math class. Keep up the good work!!