Write a Java program that calculates and prints the monthly pay check for an emp

Question

Write a Java program that calculates and prints the monthly pay check for an employee. The net pay is calculated after taking the following deductions:

Federal Income Tax: 15%
State Tax: 3.5%
Social Security Tax: 5.75%
Medicare/Medicaid Tax: 2.75%
Pension Plan: 5%
Health Insurance: $75.00

Your program should prompt the user to input the employee name and the gross amount. The out put will be stored in a file. Format your output to two decimal places. A sample output follows.

Allison Nields
Gross Amount: $3575.00
Federal Tax: $536.25
State Tax: $125.13
Social Security Tax: $205.56
Medicare/Medicaid Tax: $98.31
Pension Plan: $178.75
Health Insurance: $75.00
Net Pay: $2356.00

Explanation / Answer

import java.io.*;
import java.text.NumberFormat;
import java.util.*;

public class Paychecks {
   
    public static void main(String[] args) throws Exception {
        String filename = "Paycheck.txt";
        Scanner sc = new Scanner(System.in);
        PrintWriter out = new PrintWriter(new FileWriter(filename));
       
        System.out.print("Enter employee name: ");
               
        out.println(sc.nextLine());
       
        System.out.print("Enter gross amount: ");
        double amount = sc.nextDouble();
       
        NumberFormat f = NumberFormat.getCurrencyInstance();
       
        out.println("Gross Amount: "+f.format(amount));
        double fedTax = 0.15*amount;
        out.println("Federal Tax: "+f.format(fedTax));
        double stateTax = 0.035*amount;
        out.println("State Tax: "+f.format(stateTax));
        double ssTax = 0.0575*amount;
        out.println("Social Security Tax: "+f.format(ssTax));
        double mediTax = 0.0275*amount;
        out.println("Medicare/Medicaid Tax: "+f.format(mediTax));
        double pension = 0.05*amount;
        out.println("Pension Plan: "+f.format(pension));
        double healthInsurance = 75;
        out.println("Health Insurance: "+f.format(healthInsurance));
        double net = amount-fedTax-stateTax-ssTax-mediTax-pension-healthInsurance;
        out.println("Net Pay: "+f.format(net));
        out.close();
    }

}

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