(Financial application: payroll) Write a program that reads the following infor-

Question

(Financial application: payroll) Write a program that reads the following infor- mation and prints a payroll statement: Employee's name (e.g., Smith) Number of hours worked in a week (e.g., 10) Hourly pay rate (e.g., 9.75) Federal tax withholding rate (eg, 20%) State tax withholding rate (e.g., 9%) A sample run is shown below: Enter employee's name: Smithter Enter number of hours worked in a week: 10 Enter Enter hourly pay rate: 9.75 Fenter Enter federal tax withholding rate : 0.20 I-Enter Enter state tax withholding rate: 0.09 -Enter Employee Name: Smith

Explanation / Answer

Hi,

Below is the python code for the requirement-

Python code-

name=input("enter employee's name")

hours=input("enter number of hours worked ina week")

payrate=("enter the hourly pay rate")

fedtax=input("enter federal tax rate")

statetax=input("enter state tax rate")

print("employee name: ",name)

print("payrate:$",payrate)

print("gross pay:$",hours*payrate)

print("federal withholding(",fedtax*100,"):$",hours*payrate*fedtax)

print("state withholding(",statetax*100,"):$",hours*payrate*statetax)

deduction=(hours*payrate*statetax)+(hours*payrate*fedtax)

print("total deductions:$", deduction)

print("net pay:$",hours*payrate-deduction)

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