Question 2
1 pts
patrick's gross earnings for the week are $1592.45. his deductions comprise 2 of his total compensation. what
is his net pay? enter your answer rounded to the nearest cent, such as: $4253.64.

$1560.60

Step-by-step explanation:

METHOD 1

We are deducting 2% of his gross earnings to get his net pay.

Convert 2% to decimals by dividing by 100.

2% ÷ 100 = 0.02

Multiply his gross earnings by the deduction rate to get how much is deducted:

$1592.45 * 0.02 = $31.85   (This number was rounded)

His net pay is gross pay minus the amount deducted.

$1592.45 - $31.85 = $1560.60

METHOD 2

Calculate 98% of his gross pay to get his net pay.

98% in decimal form is 0.98.

Multiply his gross pay by the amount he is actually paid (98%).

$1592.45 * 0.98 = $1560.60    (This number was rounded)

the monthly balance will be $75,000