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2. Write a Java program to calculate and print the monthly paycheck for an employee. The net pay is calculated after taking the following deductions: Federal income tax = 15% State income tax =5% Social security tax = 5% Medicare/Medicaid Pension plan = 3% = 8% Health insurance $125.00 Your program should ask the user to input the employee ID, last name, first name, and the earnings (gross amount) for current month. The output should be the net pay, after deductions. Format the output to have 2 decimal places. Sample output: Employee ID: Employee Name: 12345 John Doe EARNINGS 4500.00 Federal Tax 675.00 State Tax 225.00 Social Security 225.00 Medicare/Medicaid 135.00 Pension Plan 360.00 Health Insurance 125.00 NET PAY 2755.00 I3D

2. Write a Java program to calculate and print the monthly paycheck for an employee. The net pay is calculated after taking the following deductions: Federal income tax = 15% State income tax =5% Social security tax = 5% Medicare/Medicaid Pension plan = 3% = 8% Health insurance $125.00 Your program should ask the user to input the employee ID, last name, first name, and the earnings (gross amount) for current month. The output should be the net pay, after deductions. Format the output to have 2 decimal places. Sample output: Employee ID: Employee Name: 12345 John Doe EARNINGS 4500.00 Federal Tax 675.00 State Tax 225.00 Social Security 225.00 Medicare/Medicaid 135.00 Pension Plan 360.00 Health Insurance 125.00 NET PAY 2755.00 I3D

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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**Java Programming Task: Calculating Monthly Paycheck** ### Task Description: Write a Java program to calculate and print the monthly paycheck for an employee. Net pay is obtained after considering these deductions: - **Federal income tax**: 15% - **State income tax**: 5% - **Social security tax**: 5% - **Medicare/Medicaid**: 3% - **Pension plan**: 8% - **Health insurance**: $125.00 The program should prompt the user to input the employee ID, last name, first name, and the earnings (gross amount) for the current month. The output must show the net pay, deducting the aforementioned amounts, with a format limited to two decimal places. ### Sample Output: ``` Employee ID: 12345 Employee Name: John Doe ============================================ EARNINGS 4500.00 Federal Tax 675.00 State Tax 225.00 Social Security 225.00 Medicare/Medicaid 135.00 Pension Plan 360.00 Health Insurance 125.00 ============================================ NET PAY 2755.00 ``` ### Explanation: - **EARNINGS**: Represents the gross salary before deductions. - **Deductions**: Each deduction (Federal Tax, State Tax, Social Security, Medicare/Medicaid, Pension Plan, Health Insurance) is applied to calculate the total deductions. - **NET PAY**: The total amount after all deductions have been subtracted from the earnings. This example helps in understanding how various deductions affect the net pay of an employee in a practical scenario using Java programming.
Transcribed Image Text:**Java Programming Task: Calculating Monthly Paycheck** ### Task Description: Write a Java program to calculate and print the monthly paycheck for an employee. Net pay is obtained after considering these deductions: - **Federal income tax**: 15% - **State income tax**: 5% - **Social security tax**: 5% - **Medicare/Medicaid**: 3% - **Pension plan**: 8% - **Health insurance**: $125.00 The program should prompt the user to input the employee ID, last name, first name, and the earnings (gross amount) for the current month. The output must show the net pay, deducting the aforementioned amounts, with a format limited to two decimal places. ### Sample Output: ``` Employee ID: 12345 Employee Name: John Doe ============================================ EARNINGS 4500.00 Federal Tax 675.00 State Tax 225.00 Social Security 225.00 Medicare/Medicaid 135.00 Pension Plan 360.00 Health Insurance 125.00 ============================================ NET PAY 2755.00 ``` ### Explanation: - **EARNINGS**: Represents the gross salary before deductions. - **Deductions**: Each deduction (Federal Tax, State Tax, Social Security, Medicare/Medicaid, Pension Plan, Health Insurance) is applied to calculate the total deductions. - **NET PAY**: The total amount after all deductions have been subtracted from the earnings. This example helps in understanding how various deductions affect the net pay of an employee in a practical scenario using Java programming.
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