How much can Kelly expect to be withheld from her paycheck each week for optional deductions?
How much can Kelly expect to be withheld from her paycheck each week for optional deductions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much can Kelly expect to be withheld from her paycheck each week for optional deductions?

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7.
Kelly's annual gross income is
$32,000. She has elected to
participate in health, disability,
and life insurance at the following
costs:
Health
Disability
Life
Insurance Insurance Insurance
Annual cost
$5,200
$3,100
S1,200
Employer
80%
50%
90%
covers
How much can Kelly expect to
be withheld from her
paycheck each week for
optional deductions?
Expert Solution

Step 1
Optional deduction from employee paycheck =
Health insurance +disability insurance +life insurance deduction
Weekly deduction =Total annual deduction /52
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