Do paycheck calculations for the following problems:



1. Tom's gross income is $1500 every other Friday. Calculate Tom's net income if his Federal tax rate is 10% and his State tax rate is 3%.



2. Rick's gross income is $4000 a month. Calculate his net income if his Federal tax rate is 10.25% and his State tax rate is 3%.



3. Jane's monthly gross income is $5,000. If Jane's Federal tax rate is 11.5% and her state tax rate is 3.25%, how much money does Jane bring home ANNUALLY?



4. How much social security tax does Rick (from problem #2) pay monthly?



5. How much medicare tax does Jane (from problem #3) pay ANNUALLY?