Answer:
t = 0.0475p
Explanation:
From the options provided, the answer would be ...
t = 0.0475p
Lets say Tonia's paycheck is 25,000 she needs to pay 5% of this to her 401k, meaning she should have 95% left
25,000 * 0.95 = 23,750
Now, 5% of this remainder goes to income tax which would be...
23,750 * 0.05 = 1,187.5
Now if we use the formula and plug in 25,000 for p which is Tonia's paycheck we see that we get the same income tax amount. Therefore, we know it is the correct formula.
t = 0.0475 * 25000
t = 1,187.5