If a 42-year-old customer has been depositing money in a variable annuity for five years, and he plans to stop investing but has no intention of withdrawing any funds for at least 20 years, he is holding A) annuity units. B) accumulation units. C) accumulation shares. D) mutual fund units.

Net pay $764.5

Explanation:

given data

wages = $1000

income taxes  = $159

solution

particular                              net pay

Gross wages                        $1000

less  

Income taxes withheld         $159

FICA-social security             (1000×6.2%)    =$62

FICA-Medicare taxes           (1000×1.45%)   =       $14.5

Total taxes withheld             (235.5)

So, Net Pay                            $764.5