Thank you for visiting Tom earns 500 has 125 withheld and is given a check for 375 What is Tom s net pay A 375 B 500 C 275. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
To determine Tom's net pay, we need to understand a few key terms. Net pay is the amount of money that an individual takes home after all deductions have been subtracted from their gross pay.
Gross Pay: This is the total amount earned before any deductions. In this case, Tom's gross pay is $500.
Deductions: These are amounts withheld from the gross pay. It can include taxes, insurance premiums, retirement contributions, etc. Here, the total deductions from Tom's pay are $125.
Net Pay: This is what remains after all deductions are taken from the gross pay. It's the amount Tom actually takes home.
To calculate net pay, you subtract the total deductions from the gross pay as follows:
[tex]\text{Net Pay} = \text{Gross Pay} - \text{Deductions}[/tex]
Substituting in the values:
[tex]\text{Net Pay} = 500 - 125 = 375[/tex]
Therefore, Tom's net pay is $375, and the correct multiple-choice option is a. $375.
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