Question

Your salary is $105,000 per year

Each month, 16% of your income is deducted for taxes?

7. What is your after-tax monthly income?

Answer 1

9514 1404 393

Answer:

$7350

Explanation:

The tax deduction multiplies your income by 1 -16% = 84%. The expression of it as a monthly amount multiplies it by 1/12. So, your monthly take-home income is ...

$105,000(0.84)(1/12) = $105,000(0.07) = $7,350

Your after-tax monthly income is $7350.