Instructions: Calculate the net monthly income and annual salary for the following scenario

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Instructions: Calculate the net monthly income and annual salary for the following scenario. Jason was a recent graduate from a university program with a Bachelor of Science in Medical Technology. He will begin a position at t local hospital working 40 hours a week with an hourly rate of $25.50. He will receive a paycheck every two weeks. In a document, calcu the following. Be sure to show your mathematical calculations. Refer to pages 535 and 536 in your textbook. Remember to convert a percentage to a decimal, you move the decimal two places to the left. For example, 5% is the same as multiplying x 0.05. 1. Gross Pay for 1 paycheck = calculated by multiplying hourly rate x 80 hours over 2 weeks. 2. Deductions for federal tax (15%) , state tax (2%), and city tax (1%) = answer to #1 multiplied by 0.15, multiplied by 0.02, and multiplied 0.01. 3. Deduction for F.I.C.A. or social security tax and Medicaid (7.65%) = answer to #1 multiplied by 0.0765. 4. Deduction of $117 for medical and dental insurance. 5. What would Jason's net monthly income and net annual salary be after taxes and insurance? Answer to #1 - Answer to #2 - Answer to $117 = net biweekly income. Net monthly would be this answer x 2. Net annual would be this answer x 12 months.