Answer:
$2860
Explanation:
Given that,
Monthly gross pay of Chin is $3,500
Total taxes are as follows :
Federal Income Tax = $420
(He plans to reduce his federal income tax deduction from 12% to 11%.)
[tex]=420\cdot\frac{12}{100}-420\cdot\frac{11}{100}\\\\=\$415.8[/tex]
State Income Tax = $95
Social Security = $89
Medicare = $40
New monthly net pay = Monhly gross-sum of texes
= $3,500-($415.8+$95+$89+$40)
= $2860.2
or
=$2860
Hence, his new monthly net pay is $2860.
