To find the net (take-home) pay for an individual with the given expenses, start by determining the total expenses. This is done by summing up all the individual expenses listed:
1. FICA: [tex]\( \$4,400.00 \)[/tex]
2. State Income Tax: [tex]\( \$3,100.00 \)[/tex]
3. Federal Income Tax: [tex]\( \$5,800.00 \)[/tex]
4. Medical Insurance: [tex]\( \$1,000.00 \)[/tex]
First, add all these expenses together:
[tex]\[
4,400 + 3,100 + 5,800 + 1,000 = 14,300
\][/tex]
So, the total expenses are [tex]\( \$14,300.00 \)[/tex].
Next, subtract these total expenses from the gross income to find the net (take-home) pay. The gross income is [tex]\( \$57,000.00 \)[/tex].
Subtract the total expenses from the gross income:
[tex]\[
57,000 - 14,300 = 42,700
\][/tex]
Therefore, the net (take-home) pay, rounded to the nearest whole dollar, is [tex]\( \$42,700 \)[/tex].
