Answer:
Both hourly and salaried employees will have deductions for Medicare and Social Security, two federal insurance programs, withheld from their paychecks. Federal and state taxes will also be withheld. Additionally, many employees will have money withheld from their paychecks to pay for insurance or contributions to a retirement fund. As a result, their net pay is significantly lower than their gross pay. Due to these kinds of deductions, gross pay of $2,000 could easily result in net pay of $1,600.
Step-by-step explanation:
