MATH SOLVE

4 months ago

Q:
# Jane’s monthly income in the year 2010 was $48,200, where 14% of her salary was withheld for income tax. In the year 2011, her monthly salary was $51,800, where 16% of her income was withheld for income tax. What was her average take home pay during the years 2010-2011?

Accepted Solution

A:

In 2010: Take home salary = (1-0.14)*(48200*12) = $497,424

In 2011: Take home salary = (1-0.16)*(51800*12) = $522,144

Average take home per month in 2010-11 = (497,424+522,144)/24 = $42,482

In 2011: Take home salary = (1-0.16)*(51800*12) = $522,144

Average take home per month in 2010-11 = (497,424+522,144)/24 = $42,482