Step-by-step explanation:
A: ←⭕
B: •→
C: ←•
D: ⭕→
.........
Answer:
$300 was deducted from tax. The tax rate is 26.1%
Step-by-step explanation:
An employee earns a gross pay of $1,200.00 per week. The employee’s net pay is $850.00. The employee’s voluntary 401(k) contribution is $50.00 per month.
There was blank deducted for taxes. The tax rate is blank
Solution:
Contributions that are made for retirement such as 401(k) contribution plans are made on a pretax basis. This means that they are removed from your taxable income, thereby reducing the tax.
Gross pay = $1200
Taxable income = Gross pay - 401(k) contribution
Taxable income = $1200 - $50 = $1150
Net pay = $850
Tax = Taxable income - Net pay
Tax = $1150 - $850
Tax = $300
Tax rate = (Tax / taxable income) * 100%
Tax rate = ($300 / $1150) * 100% = 26.1%
Answer:
0.35 each
Step-by-step explanation:
Y = 12% = 0.12
y = 100(0.05) + x(0.2) / 100 + x
0.12 = 5 + 0.2x / 100 + x
0.12( 100 + x ) = 5 + 0.2x
12 + 0.12x = 5 + 0.2x
7 = 0.08x
x = 87.5
hope this help
