Gross and Net Income

Front

What is net income?

Back

The amount of money you receive after deductions are subtracted from your gross income.

Front

What is gross income?

Back

The total amount of money you earn before any deductions.

Front

If David's gross income is $127.25 and his deductions are $25.20, what is his net pay?

Back

$102.05

Front

If Angel works 7 hours at $15 per hour, what is his gross pay?

Back

$105.00

Front

If Angel's total deductions are $12, what is his net pay after working 7 hours?

Back

$93.00

Front

How do you calculate net income?

Back

Net income = Gross income - Deductions.

Front

What are deductions?

Back

Amounts taken away from gross income, such as taxes and other withholdings.

Front

If Alexis worked 24 hours at $12 per hour, what is her gross pay?

Back

$288.

Front

What is the formula to calculate gross pay?

Back

Gross pay = Hourly rate x Hours worked.

Front

If a jersey costs $84 and Angel has a net pay of $93 after deductions, can he afford the jersey?

Back

Yes.