Question

Your friend's job pays $10 per hour, and he works 40 hours per week. His tax rate is 20 percent. Assuming he works 50 weeks of the year, his yearly net income is

Answer 1

you have:

10$/hour
40 hours/ week
50 weeks/ year

he gets $400 per week x 50 weeks = $20,000
but 20% of $20,000 is $4,000

so you subtract it to get $16,000