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Rebecca  is paid $3546.00 semi-monthly. She pays deductions of $18.52 for union dues and $134.78 for a company pension plan.1) What is her taxable income?(Enter the numbers only with no dollar sign.)2) Which is higher for Rebecca, her taxable income,T, or her net pay,N? Enter T or N in the 2nd box.

Question

Rebecca  is paid 3546.00semimonthly.Shepaysdeductionsof3546.00 semi-monthly. She pays deductions of 18.52 for union dues and $134.78 for a company pension plan.1) What is her taxable income?(Enter the numbers only with no dollar sign.)2) Which is higher for Rebecca, her taxable income,T, or her net pay,N? Enter T or N in the 2nd box.

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Solution

  1. To calculate Rebecca's taxable income, we need to subtract her deductions (union dues and company pension plan) from her semi-monthly pay.

Here's how:

3546.00(semimonthlypay)3546.00 (semi-monthly pay) - 18.52 (union dues) - 134.78(companypensionplan)=134.78 (company pension plan) = 3392.70

So, Rebecca's taxable income is 3392.70.

  1. Rebecca's net pay is the amount she takes home after all deductions. In this case, her net pay is the same as her taxable income, which is $3392.70.

Therefore, neither T (taxable income) nor N (net pay) is higher. They are equal. So, the answer is either T or N.

This problem has been solved

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