Question 21 ptsPatrick's gross earnings for the week are $1592.45. His deductions comprise 2 of his total compensation. Whatis his net pay? Enter your answer rounded to the nearest cent, such as: $4253.64.

Accepted Solution

Answer:$1560.60Step-by-step explanation:METHOD 1We are deducting 2% of his gross earnings to get his net pay.Convert 2% to decimals by dividing by 100.2% ÷ 100 = 0.02Multiply 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 = $1560.60METHOD 2Calculate 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)