Homework Basic I-O solution


Write a program that calculates and prints the monthly paycheck 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 Tax 2.75%
Pension Plan 5%
Health Insurance $75.00

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

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